Sobeys news

27 April 2015
Co-op Atlantic has announced plans to divest its retail and fuel operations in Canada to Sobeys, subject to membership approval. Sobeys will be seeking to lift performance of under-performing stores Co-op Atlantic currently operates 173 outlets under a range of banners in Atlantic Canada, including company-owned and franchised operations. For Sobeys, the acquisition would complement its...
17 April 2015
Ontario has put in place  plans to enable grocery stores to sell beer. This provides retailers with an opportunity to grab share in a major category, which could also be an important traffic driver. First stores to be up and running by Christmas Beer sales in Ontario are currently driven almost exclusively through The Beer Store, which is owned by Molson Coors, Anheuser–Busch InBev and S...
12 January 2015
Following the launch of new ecommerce initiatives by two of Canada’s leading grocery retailers last year, we assess how the channel is likely to evolve in the year ahead. Rapid sales growth Grocery ecommerce is one of the least developed channels in the Canadian grocery market. Although there have been a number of retailers offering this service on a regional or city bas...
15 December 2014
With Sobeys completing the acquisition of Canada Safeway just over a year ago, we take a look at the impact on the business to date. 1. Lifting sales and profitability As a major acquisition for Sobeys, the Safeway business is having a significant impact on the retailer’s financials. In the second quarter, total sales increased by 35.8% to $6.0bn, while net earnings from food retailing wer...
16 July 2014
CVS Caremark has acquired Miami-based Navarro Discount Pharmacy chain, the largest Hispanic-owned drugstore chain in the U.S. Stores to remain under Navarro Discount banner The transaction, which is subject to regulatory approvals, includes Navarro’s 33 retail drugstore locations and Navarro Health services, a speciality pharmacy serving. The financial terms of the agreement were not disclo...
26 June 2014
Empire Co. Ltd., owner of Canadian supermarket chain Sobeys, has announced it will close 50 Sobeys stores, mainly in Western Canada, in order to improve profitability. Review revealed underperforming stores The stores are being shut after a review of its store network last Fall revealed a number of underperforming stores. The stores represent 1.5 million square feet of floor space, 3.8% o...
13 March 2014
Sobeys’ third quarter sales increased by 40.4% to $6.0bn, impacted by the acquisition of Canada Safeway. Excluding the acquisition, sales were up 2.7%, while same store-sales declined 0.2%. Net earnings from food retailing fell from $67.7m in 2013 to $3.9m, mainly due to sales and gross margin impacts and finance costs related to the acquisition. Margins impacted by new commercial programs t...
13 February 2014
Sobeys is to sell to 30 stores in Western Canada, with separate deals agreed with the Overwaitea Food Group and Federated Co-operatives Limited. Required divestments as part of the Canada Safeway deal These stores form part of the October 2013 Consent Agreement with the Competition Bureau which Sobeys signed in relation to its purchase of Canada Safeway. While this required the retailer to...
16 December 2013
HY Louie, a major grocery retailer in western Canada, has launched a new store format, Fresh St. Farms, which builds on the launch of its innovative Fresh St. Market format earlier this year. Fresh and local at the heart of the concept The new store, in Surrey BC, has been opened in a former IGA Marketplace location, which had also been operated by HY Louie. Billed as an ‘urban farmer’s marke...
12 December 2013
Sobeys’ second quarter sales increased by 2.0% to $4.4bn, with same-store sales up 0.2%. Net earnings from continuing operations within the food division decreased by 27.1% to $56.3m, impacted by transaction costs related to the acquisition of Canada Safeway and lower gross margins. Pressures on promotional pricing The Canadian market remains competitive and volatile.  Sobeys reported tha...