(Stellarton) The Empire chain posted a net profit of 181.1 million for the second quarter on Thursday, compared to 189.9 million at the same time last year.
The owner of banners such as Sobeys, Safeway and FreshCo said this corresponds to a net profit of 72 cents per share, compared to 73 cents per share a year ago.
Quarterly sales increased from 7.64 billion last year to 7.75 billion this year.
Same-store sales advanced 2.2%, but 2% if we exclude fuel sales.
Empire CEO Michael Medline said that while rising interest rates and general economic uncertainty are impacting customer purchasing behavior, the company’s fundamentals remain strong.
Company in this dispatch: (TSX: EMP. A)