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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. Nouvelles

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STELLARTON, N.S. — 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.

Traders' odds of a 25 basis point Fed cut now stand at 85%, from around 50% just days ago

The result was down from a profit of $1.03 per diluted share in the same quarter last year when its bottom line was boosted by the sale of 56 gas stations in Western Canada. Sales for what was the company's first quarter totalled $8.14 billion, up from $8.08 billion a year earlier.

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