Sobeys Posts Sales Gains

Empire Cos. yesterday said same-store sales at its Sobeys division rose 7.6% in the third quarter, which the company attributed to both operating improvements and inflation.

STELLARTON, Nova Scotia — Empire Cos. here yesterday said same-store sales at its Sobeys division rose 7.6% in the third quarter, which the company attributed to both operating improvements and inflation. Operating income in the food retailing segment for the 13-week quarter, which ended Jan. 31, rose 43.5%, to $76.6 million (U.S.), on an 8.8% gain in revenues, to $2.9 billion. Through three quarters, operating income in food retailing was up 17.3%, to $232 million, on revenues of $8.6 billion, up 8%. Sobeys represents about 98% of Empire’s revenues.

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