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.

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