STELLARTON, Nova Scotia — Empire Co., parent of the Sobeys chain in Canada, posted revenue gains for the recently ended fiscal year but said net income fell for both the fourth-quarter and full-year periods. Same-store sales at Sobeys were up 4.6% for the quarter and 5.2% for the year, which ended May 2. The company said inflation accounted for about 3% of the gain in the most recent quarter. Although Sobeys said it incurred higher costs from some severance-package payouts and an increase ...
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