Market News
15Dec2006 |
Sobeys Posts Slightly Higher EarningsHigher sales helped Sobeys' second-quarter earnings edge up slightly to $47.2 million from $45.8 million a year ago. The Stellarton, N.S.-based grocery retailer also reported that sales for the period ending November 4, 2006 increased 2% to $3.25 billion from $3.19 billion while same-store sales were up 2.4%. Sobeys' parent Empire Company also reported a profit rise with earnings reaching $57.2 million, up from $48.6 million a year ago, with revenues reaching $3.31 billion (up 2%). Source: Canadian Grocer E-Newsletter, December 15, 2006. 
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