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Empire says it earned $0.78 per share in its most recent quarter. (Photo: 123RF)
STELLARTON — Empire Company on Thursday reported a profit of $261.0 million in its latest quarter, up from $187.5 million in the same quarter last year, thanks to the sale of its 56 gas stations in Western Canada to Shell Canada.
The grocer, which owns Sobeys, Safeway and other banners, says revenue was $1.03 per share for the quarter ended Aug. 5, up from a profit of $0.71 per share in the previous year.
Empire’s first quarter sales totaled $8.08 billion, up from $7.94 billion in the same quarter last year.
Same-store sales increased 3.0%, while same-store sales, excluding fuel, increased 4.1%.
On an adjusted basis, Empire reports earning $0.78 per share in its most recent quarter, up from $0.71 per share a year earlier.
The average analyst estimate was an adjusted earnings of $0.75 per share, according to estimates compiled by financial markets data firm Refinitiv.
