STELLARTON, Nova Scotia — Sobeys here on Tuesday reported an increase in operating income for the third fiscal quarter of 0.9%, to $339.9 million (U.S.), while same-store sales fell 0.4% for the period.
Sales at Sobeys, which comprises most of the revenues for parent company Empire Cos., were $3.95 billion, up 1.5% vs. year-ago levels.
Fiscal year-to-date sales for the food retailing division were about $12 billion, also up 1.5%. Same-store sales for the 39-week period, which ended Jan. 29, decreased 0.1%.
Through three quarters, Sobeys said it converted 39 Price Chopper stores to the FreshCo discount banner.
Sobeys' parent company, Empire Cos., which also operates a real estate business, posted a 0.8% decline in net income for the quarter, to $64.7 million, on a 1.3% gain in revenues, to about $4 billion.
