Empire profit falls 6 pct on one-time charge

Tue Mar 12, 2013 9:47am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

March 12 (Reuters) - Empire Co Ltd, parent of Sobeys, Canada's No. 2 grocer behind Loblaw Cos Ltd, reported a 6 percent fall in third-quarter profit as the company took a one-time charge related to equity accounted investment.

Net earnings fell to C$75.2 million ($73.2 million), or C$1.11 per share, from C$80 million, or C$1.17 per share, a year earlier.

Sales rose 9 percent to C$4.34 billion. Sobeys same-store sales, a key measure for retailers, rose 1.2 percent.