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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 million a year ago as its sales edged higher.

"We are increasingly optimistic as market conditions are gradually improving, contributing to a more predictable operating environment," said president and CEO Michael Medline in a press release.

The changes"are expected to have a significant, positive impact on Voilà's profitability in fiscal 2025 and 2026," Empire said. Medline said the company's strategic initiatives are gaining traction and delivering results. Over the past several years, Empire has been investing in renovations, converting some of its traditional stores into its discount brands and opening new stores as well as other improvements to its network.

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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