(Stellarton) Empire Company Limited reported first-quarter profit of 187.5 million, as sales rose 4.1% from a year ago.
Posted at 8:04 a.m.
The parent company of grocery chain IGA and Sobeys says its profit was 71 cents per share for the quarter ended Aug. 6.
The result compares with a profit of 188.5 million or 70 cents per share a year ago, when there were more shares outstanding.
Sales totaled 7.94 billion, compared to 7.63 billion in the same quarter last year.
Empire says sales growth was driven by higher fuel sales, rising food inflation and the benefits of recent initiatives, such as expanding its FreshCo banner in Western Canada, but partially limited by the impact of the pandemic restrictions in place for part of the first quarter of the prior year.
Same store sales for the quarter increased 3.3%, while same store sales excluding fuel increased 0.4%.
Companies in this story: (TSX: EMP. A)