Sobeys Posts 22.1% Profit Gain

Larger stores and better execution helped improve sales and profitability at Sobeys here during the fiscal second quarter, the retailer said last week. Sales of $3.6 billion (U.S.) increased 4% and net income of $63.7 million rose by 22.1% for the quarter, which ended Oct. 31. Same-store sales improved 2.7%, which officials lauded amid inflation. By contrast, Sobeys posted

STELLARTON, Nova Scotia — Larger stores and better execution helped improve sales and profitability at Sobeys here during the fiscal second quarter, the retailer said last week.

Sales of $3.6 billion (U.S.) increased 4% and net income of $63.7 million rose by 22.1% for the quarter, which ended Oct. 31. Same-store sales improved 2.7%, which officials lauded amid “negligible” inflation. By contrast, Sobeys posted a 5.7% same-store sales gain in the second quarter of fiscal 2009,

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