Sobeys' Sales Up For the Third Quarter 2012


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Fri. March 16th, 2012 - by Whit Grebitus

<p><strong>Stellarton, Nova Scotia</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Empire Company Limited has reported its third quarter numbers. For the period, which ended February 4, 2012, the company announced net earnings of $80.0 million and $1.17 per share, according to a press release. Last year in the third quarter, Empire Company recorded $88.9 million. Third quarter adjusted earnings were $72.2 million and $1.06 per share, compared to $68.4 million in the similar period from the prior year.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The company's consolidated sales for the period were $3.98 billion, up 2.8 percent from $3.88 billion last year. Sobeys' sales were up 2.9 percent equaling $3.94 billion versus $3.83 billion in the third quarter last year. Sobeys' same-store sales also showed an increase of 1.2 percent.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Paul Sobey, President and CEO, states, "We are pleased with our third quarter performance as we continue to grow in both our food retail and real estate businesses." Mr. Sobey, continues, "We continue to grow by working together organization-wide to improve productivity and lower costs while driving product and service innovation to enrich our customers' experience and to ensure our competitive position in an ever changing retail landscape."</p><hr class="legacyRuler"><hr class="invisible minimal-padding">