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Empire Co. posted a $385M loss in Q3 2026 due to shutdown costs, despite higher adjusted earnings and sales.
Empire Co., parent of Sobeys, reported a $385 million net loss for its third quarter ended Jan. 31, 2026, due to one-time costs from shutting down Voilà delivery operations in Alberta and halting expansion in Vancouver.
This contrasts with a $146 million profit in the same period last year.
On an adjusted basis, earnings were 72 cents per share, up from 62 cents.
Total sales rose to $7.89 billion, driven by a 3.0% increase in food sales, while fuel sales dropped 11.4% due to lower prices after the federal carbon tax was removed.
Same-store sales grew 1.2%, with food sales up 2.0%.
The company operates Sobeys, Safeway, Farm Boy, and IGA.
Empire Co. registró una pérdida de $ 385M en el tercer trimestre de 2026 debido a los costos de cierre, a pesar de las ganancias y ventas ajustadas más altas.