SN's Feb. 4 article on Sobey's contained some figures that misstated the company's financial performance projection for the fiscal year ending in May and the actual results for the first half ended Nov. 3. Following is the corrected information: Earnings for the fiscal year ending in May 2002 would rise 50 cents per share to $2 -- an increase of 34% -- with 33 cents of the increase per share from three areas -- 10 cents from cost reductions in distribution and logistics; 16 cents from reductions in product costs and retail brand improvements; and 7 cents from reductions in overhead and administration. By the end of the second quarter on Nov. 3, Sobeys was running ahead of schedule on all three financial goals, with earnings up 20 cents per share, including 6 cents from distribution and logistics; 9 cents from product cost reductions and retail brand improvements and 5 cents on overhead and administration.
