Stellarton, NS
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.
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."
Empire Company Limited
