Empire says it earned $0.78 per share in its most recent quarter. (Photo: 123RF)
STELLARTON – Empire Company on Thursday reported a profit of $261.0 million in its latest quarter, up from $187.5 million in the same quarter last year, thanks to the sale of its 56 gas stations in Western Canada to Shell Canada.
The grocer, which owns Sobeys, Safeway and other brands, said revenue was $1.03 per share in the quarter ended Aug. 5, compared with profit of $0.71 per share last year.
Empire’s first-quarter revenue was $8.08 billion, up from $7.94 billion in the year-ago quarter.
Same-store sales increased 3.0%, while same-store sales, excluding fuel, increased 4.1%.
On an adjusted basis, Empire reported earnings of $0.78 per share in its most recent quarter, up from $0.71 per share a year ago.
According to estimates from financial markets data firm Refinitiv, the average analyst estimate was for adjusted earnings of $0.75 per share.
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