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KTrain · 06-28-2016, 07:48 PM

Sobeys parent company Empire reports massive fourth-quarter loss

Empire Company Ltd. (TSX:EMO.A), parent of the Sobeys supermarket chain, has reported a massive fourth-quarter net loss of more than $900 million, citing "challenges" related to its Canada Safeway acquisition in Western Canada.

Empire said the loss, net of non-controlling interest, was $942.6 million or $3.47 per diluted share, compared with a net profit of $55.4 million or 20 cents per share in last year's fourth quarter.

That contributed to a consolidated net loss for all of fiscal 2016 of $2.13 billion or $7.78 per diluted share, compared with net income of $419 million or $1.51 per diluted share in fiscal 2015.

http://www.ctvnews.ca/business/sobey...loss-1.2965889

06-28-2016, 07:48 PM	#469
KTrain ALL ABOARD! Join Date: Oct 2003 Exp:	Sobeys parent company Empire reports massive fourth-quarter loss Empire Company Ltd. (TSX:EMO.A), parent of the Sobeys supermarket chain, has reported a massive fourth-quarter net loss of more than $900 million, citing "challenges" related to its Canada Safeway acquisition in Western Canada. Empire said the loss, net of non-controlling interest, was $942.6 million or $3.47 per diluted share, compared with a net profit of $55.4 million or 20 cents per share in last year's fourth quarter. That contributed to a consolidated net loss for all of fiscal 2016 of $2.13 billion or $7.78 per diluted share, compared with net income of $419 million or $1.51 per diluted share in fiscal 2015. http://www.ctvnews.ca/business/sobey...loss-1.2965889