Sobeys Q3 sales dip on closures

Sobeys Q3 sales dip on closures

Sobeys on Thursday said store closures and divestitures caused sales to decrease during the fiscal third quarter, but earnings improved as a result of synergies from its Safeway Canada acquisition.

Sales at the Stellarton, Nova Scotia, company totaled $4.7 billion (U.S.) for the quarter, which ended Jan. 31, a decline of 1.1% from the same period a year ago. Non-fuel same-store sales improved by 3%; and 1.9% including fuel.

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