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

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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Canada’s grocery code of conduct could encourage investment and innovation, advocates sayMichael Medline, chief executive of Sobeys parent company Empire Co. Ltd, told The Canadian Press that the industry can only benefit from clearer rules over negotiations and disagreements
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