Sobeys and Parent Company Show Positive Numbers


Thu. September 13th, 2012

<p><strong>Stellarton, NS</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Empire Company Limited has reported its first quarter financial results for the period that ended August 4, 2012. The company revealed sales of $4.56 billion, an increase of 9.7 percent or $403.5 million over the comparable period. Last year the quarter revealed sales of $4.15 billion. The sales contribution that Sobeys made to Empire was $4.51 billion compared to $4.10 billion in the first quarter last year which is an increase of 9.8 percent or $403.9 million. Excluding sales of $258.1 million related to the acquisition of 236 retail gas locations and related convenience store operations in the fourth quarter last year, Sobeys sales contribution to Empire increased by $145.8 million or 3.6 percent. Sobeys' first quarter, same-store sales increased 1.8 percent.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Paul D. Sobey, President and CEO, Empire Company Limited, stated, "Our solid first quarter results were driven by Sobeys' operational performance which demonstrates that our food-focused strategy is resonating with more and more customers. We remain committed to improving our cost structure and productivity, and further enriching the shopping experience of our customers."<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.sobeyscorporate.com/App_Themes/SobeysCorporate/media/en/EMPIRE-COMPANY-REPORTS-FIRST-QUARTER-RESULTS.pdf" target="_new"> Empire Company Limited </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">