Empire Company Limited, the parent company of Sobeys and Canada Safeway, has released Fiscal 2015 results for its second quarter, which ended on Nov. 1, 2014.
Its adjusted net earnings from continuing operations of non-controlling interest of $128.2 million, or $1.39 per diluted share. This is a 13.9 per cent increase on a per-share basis over the $83.4 million, or $1.22 per diluted share, that the company recorded last year.
The company’s overall sales reached $5.99 billion, an increase of $1.58 billion or 35.8 per cent since last year. Sobeys’ experienced an increase in same-store sales of 1.7 per cent.
“We are pleased with our second quarter results and our progress year-to-date. Growth in consolidated sales in the second quarter of 35.8 per cent and in adjusted net earnings from continuing operations of 53.7 per cent largely reflects the impact of the acquisition of Canada Safeway combined with Sobeys’ sales and merchandising initiatives…” said Empire President and CEO Marc Poulin in a press release from the company. “…We remain focused on the ongoing promotion of our food-focused culture, while continuing to secure operational efficiencies and cost reductions across the organization.”
