(Stellarton) Empire Company on Thursday reported a profit of $261.0 million in its latest quarter, up from $187.5 million in the same quarter last year, thanks to the sale of its 56 stations -Western Canadian service to Shell Canada.
The grocer, which owns Sobeys, Safeway and other banners, says revenue was $1.03 per share for the quarter ended Aug. 5, up from a profit of $0.71 per share in the previous year.
Empire’s first quarter sales totaled $8.08 billion, up from $7.94 billion in the same quarter last year.
Same-store sales increased 3.0%, while same-store sales, excluding fuel, increased 4.1%.
On an adjusted basis, Empire reports earning $0.78 per share in its most recent quarter, up from $0.71 per share a year earlier.
The average analyst estimate was an adjusted earnings of $0.75 per share, according to estimates compiled by financial markets data firm Refinitiv.
Company in this dispatch: (TSX: EMP. A)