About 50 underperforming Sobeys grocery stores to close mostly in Western Canada

Canadian Press DataFile |


STELLARTON, N.S. - Empire Co. Ltd. (TSX:EMP.A) says it's closing about 50 underperforming Sobeys to improve its net earnings. Empire, which owns Sobeys, says about 60 per cent of the affected Sobeys stores are in Western Canada. Nova-Scotia-based Empire reports fourth-quarter adjusted net earnings from continuing operations of $131.3 million, or $1.42 per diluted share, compared with $95.7 million, or $1.40 per diluted share, in the same quarter of last year. Sales were $5.94 billion, up $1.68 billion year-over-year, excluding the impact of the recent Canada Safeway acquisition.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
SKUFF Aktiebolaget SKF 20.03 0.00 0.00 0

Comments

Emerging Growth

Enertopia Corp

Enertopia Corp is engaged in the exploration of lithium in Nevada, USA. The Company's project includes Central Nevada Lithium Brine Projects.

Private Markets

Trustify

Trustify provides trust and safety in both the digital and physical worlds through our vast network of on-demand Private Investigators.By removing the large retainers and high hourly rates that traditional…

8tracks

Our mission is to be the best place for people who care about music to create and discover thoughtfully curated playlists. In essence, 8tracks is a platform for online mixtapes.