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Inflation, acquisitions boost Sobeys Q2

The addition of Safeway Canada stores, along with food price inflation, helped Sobeys post a sales gain of 35.8% in the fiscal second quarter, parent company Empire Cos. said Friday.

Same store sales for the period, ended Nov. 1 were 1.7%. Earnings, totaling $101.3 million (U.S.) were up 93.2% as compared to the same period a year ago to and up by 53.7% when adjusted for one-time events. Sales totaled $5.2 billion (U.S.).


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Marc Poulin, president and CEO of Empire, in a statement said the company was pleased with the quarterly results and company performance year-to-date, adding that synergy savings and integration of the Safeway Canada acquisition were on track.

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