Sobeys Posts Profit Gains in Q1

Empire Co. said operating income at its Sobeys division was up about 3.8% in its fiscal first quarter, to about $122.2 million (U.S.), while same-store sales at the chain rose 0.3%.

STELLARTON, Nova Scotia — Empire Co. here said operating income at its Sobeys division was up about 3.8% in its fiscal first quarter, to about $122.2 million (U.S.), while same-store sales at the chain rose 0.3%.

Revenues at Sobeys for the quarter, which ended July 31, rose about 1.8%, to $3.85 billion. Overall, net income at Empire was down 9%, to about $79 million, following one-time gains of about $17 million

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