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Sobeys parent company Empire reports $207.8M Q1 profit, sales up from year ago

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Empire Co. Ltd. says it earned $207.8 million in its latest quarter, down from $261.0 million a year ago as its sales edged higher.

The Canadian PressKristi Lalach, SVP in legal and sustainability at Sobeys Inc., joins BNN Bloomberg to discuss the Empire-FoodHero partnership and grocery inflation.

The parent company of the Sobeys grocery chain says the profit amounted to 86 cents per diluted share for the 13-week period ended Aug. 3. On an adjusted basis, Empire says it earned 90 cents per share in its latest quarter, up from an adjusted profit of 78 cents per diluted share in the same quarter last year.

 

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