News Formal

Empire reports $125.7M net earnings as it rebounds from Sobeys cyberattack

  • 📰 CP24
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 67%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Grocery giant Empire Company Ltd. said persistent inflation, changing customer habits due to higher costs and a cyberattack all weighed on its business in its third quarter, reporting net earnings fell by almost 78 per cent from the same period a year earlier.

“This was not a straightforward quarter,” said Michael Medline, Empire's president and chief executive on a call with analysts Thursday.

Empire's earnings report came as the Stellarton, N.S.-based company recovers from a cyberattack that shut down its pharmacy services and hampered self-checkout machines, gift card use and the redemption of loyalty points. Empire said the attack temporarily reduced sales and hindered the effectiveness of its operations, especially when rolling out promotions and using management tools.

However, it warned there will be a time lag between the initial incurrence of costs and the recognition of insurance proceeds because of the “complexity” of cyber insurance coverage. At the committee hearing, the grocery executives argued food price inflation is not caused by profit-mongering and that their margins on food-related profits have remained low.

Chief Financial Officer Matt Reindel said on the call that the company isn't changing its business strategy during inflation.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 30. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

All on the backs and pockets of consumers being gouged

Meanwhile people of this nation are reporting negative net worth? Mind blowing!

I guess their prices will go up even more now.

Cue the haters and theJagmeetSingh

this why they are selling a case of water for $5 👎🏾

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Empire reports $125.7-million net earnings as it rebounds from Sobeys cyberattackEmpire says the results for its third quarter compared with $203.4-million in net earnings during the same period the year before That’s what price gouging does, makes rebounds a breeze.
출처: globeandmail - 🏆 5. / 92 더 많은 것을 읽으십시오 »

Empire reports $125.7M net earnings as it rebounds from Sobeys cyberattack | Globalnews.caThe company's earnings for the period ended Feb. 4 amounted to 49 cents per share, down from 77 cents per share in the third quarter of the prior fiscal year.
출처: GlobalNational - 🏆 81. / 51 더 많은 것을 읽으십시오 »

Empire reports $125.7M net earnings as it rebounds from Sobeys cyberattack - BNN BloombergEmpire Company says its net earnings hit $125.7 million in its latest quarter as its Sobeys supermarket chain rebounded from a November cyberattack.
출처: BNNBloomberg - 🏆 83. / 50 더 많은 것을 읽으십시오 »

Empire reports $125.7M net earnings as it rebounds from Sobeys cyberattackEmpire Company says its net earnings hit $125.7 million in its latest quarter as its Sobeys chain rebounded from a November cyberattack. Of course it's profit-mongering but it's not a recent phenomenon.
출처: CHEK_News - 🏆 59. / 55 더 많은 것을 읽으십시오 »

Sobeys' parent Empire reports earnings estimate miss on costs of cyberattackSobeys\u0027 parent Empire Co. said in it latest earnings report a cyberattack late last year cost the grocery chain $54 million. Read on. Jagmeet Singh and the NDP will be happy. we're done with your sponsors the oligarchs that are screwing us
출처: nationalpost - 🏆 10. / 80 더 많은 것을 읽으십시오 »

Sobeys' parent Empire reports earnings estimate miss on costs of cyberattackSobeys\u0027 parent Empire Co. said in it latest earnings report a cyberattack late last year cost the grocery chain $54 million. Read on.
출처: financialpost - 🏆 7. / 85 더 많은 것을 읽으십시오 »