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Grocer Empire records $134.2M in Q3 net earnings, up 8.5% from year ago

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STELLARTON, N.S. — The parent company of the Sobeys, Safeway and FreshCo grocery chains says net earnings in its latest quarter were up 8.5 per cent to $134.2 million. Empire Company Ltd. says that compares with net earnings of $125.

STELLARTON, N.S. — The parent company of the Sobeys, Safeway and FreshCo grocery chains says net earnings in its latest quarter were up 8.5 per cent to $134.2 million.Its third quarter earnings amounted to 54 cents per diluted share compared with 49 cents per diluted share a year prior.

Its adjusted net earnings for the period ended Feb. 3 totalled $153.1 million compared with $164.8 million a year before.They were driven by growth in Empire's discount and full-service businesses but offset by lower fuel sales largely triggered the sale of all of its retail fuel sites in Western Canada in the first quarter of its fiscal 2024.The Canadian Press

 

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