March 13, 2012 / 2:12 PM / 6 years ago

Sobeys parent says sales, adjusted profit up

TORONTO, March 13 (Reuters) - Empire Co Ltd, parent of No. 2 Canadian grocer Sobeys, reported higher adjusted earnings on Tuesday as sales and same-store sales rose.

Net income for the quarter ended Feb. 4 fell to C$80.0 million ($80.5 million), or C$1.17 a share, from C$88.9 million, or C$1.31, a year earlier. But adjusted earnings rose to C$72.2 million, or C$1.06 a share, from C$68.4 million, or C$1.01 a share.

Sales rose 2.8 percent to C$3.98 billion. Sales at established Sobeys stores, a key measure for retailers, rose 1.2 percent.

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