E-commerce growth, Farm Boy and FreshCo expansion drive strategy
Spurred by ongoing robust sales growth in the fiscal 2021 second quarter, Sobeys Inc. parent Empire Company Ltd. is ramping up investment in e-commerce and fast-growing supermarket banners to propel market share gains.
For the quarter ended Oct. 31, food retail sales climbed 8.4% to nearly $6.98 billion (Canadian) from $6.44 billion a year earlier, Empire reported yesterday. Same-store sales excluding fuel rose 8.7% year over year.
The Stellarton, Nova Scotia-based food and drug retailer said the sales growth reflects heightened consumer demand amid the COVID-19 crisis, increased grocery retail share and the expansion of its FreshCo value supermarket chain in Western Canada, partially offset by lower fuel sales during the pandemic and temporary closures of stores converting to the FreshCo format.
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