STELLARTON, N.S. — Empire Co. Ltd. says it earned a second-quarter profit of $173.4 million as its sales edged higher.
The parent company of grocery retailer Sobeys says the profit amounted to 73 cents per diluted share for the 13-week period ended Nov. 2 compared with a profit of $181.1 million or 72 cents per diluted share a year ago when it had more shares outstanding.
Sales for the quarter totalled $7.78 billion, up from $7.75 billion a year earlier.
The increase came as same-store sales rose 1.1 per cent. Same-store sales growth, excluding fuel sales, amounted to 1.8 per cent.
On an adjusted basis, Empire says it earned 73 cents per diluted share in its latest quarter, up from an adjusted profit of 71 cents per diluted share in the same quarter last year.
The average analyst estimate had been for an adjusted profit of 66 cents per share, according to data provided by LSEG Data & Analytics.
This report by The Canadian Press was first published Dec. 12, 2024.
Companies in this story: (TSX:EMP.A)
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