Marc Poulin, CEO of Sobeys’ parent Empire Co. Ltd., says the sales of healthier and easier to prepare foods has attributed to the supermarket’s growing profit.
“They truly understand with the obesity problem we have… they clearly understand there is something broken in the relationship Canadians have with food,” he told Canadian Grocer in an interview after the annual shareholders meeting. “They have decided we are going to be the ones helping them in a transition.”
Among Sobeys’ efforts to promote a healthier lifestyle are a larger variety of breads, pre-marinated meats and ready to eat meals to replace cooking dinner at home, though Poulin did not specify on how much these new products are adding to the store’s revenue.
Sobeys’ same-store sales at locations open for at least one year grew by 1.3 per cent, while the parent company listed a net profit of $123.1 million between May 4 and Aug. 2 of this year. The company’s adjusted net earnings were at $131.7 million or $1.43 per share, which is ahead of estimates.
