Sobeys news

14 March 2018
We review Sobeys’ third quarter performance and progress against its turnaround plan, Project Sunrise. Improving sales and profitability Sobeys’ third quarter sales increased by 2.4% to $6.0bn, with same-store sales up 1.1%. Adjusted net earnings over the period increased from $34.6m to $89.9m, reflecting an improvement in sales and margins, cost efficiencies and benefits related to Project...
22 January 2018
Ocado has announced a partnership with Sobeys to develop its online grocery business in Canada. This is Ocado's first venture into North America, and the third international partnership for the Ocado Smart Platform. Exclusive partnership Sobeys is Canada's second largest food retailer, generating sales of C$23.8 billion in 2017. It operates more than 1,500 stores across the country under...
02 January 2018
We look at the growth priorities for the four major grocery retailers in Canada over the next 12 months, as they focus on topline growth against a backdrop of increasing cost headwinds. Loblaw: loyalty and digital initiatives Loblaw’s activities in 2018, particularly in the first half of the year, will be shaped by the flurry of announcements which were made over the last two months. Its mo...
14 December 2017
We look at how Sobeys plans to win in Western Canada by launching its FreshCo discount format in the region. Discount launch key to taking market share in Western Canada The announcement to launch the format comes after months of speculation following the appointment of Michael Medline as the retailer’s President and CEO earlier this year. He is currently leading the company’s turnaround pl...
27 November 2017
Sobeys is eliminating 800 positions within the business as part of its broader restructuring plans. Aiming to deliver $500m in annualised cost savings by 2020 The job cuts are being made across Canada as the retailer moves from being a regionally-led business to a functionally-led business. Earlier this year, under the leadership of new CEO Michael Medline, the retailer shared details of a ...
14 September 2017
Sobeys reported an improved performance in Q1 as it starts to put elements of its turnaround plan, Project Sunrise, into action. Same-store sales return to positive territory First quarter sales increased by 1.4% to $6.3bn, with same-store sales up 0.5%. Adjusted net earnings increased by 18.9% to $87.5m. These results reflect an improved performance at the retailer, following five successive...
29 June 2017
Although sales and profits fell in the fourth quarter, Sobeys is starting to see the initial signs of recovery following the launch of Project Sunrise, its three-year transformation plan. Sales and profitability remain under pressure Sobeys’ fourth quarter sales fell by 7.7%, reflecting a shorter trading quarter this year, with same-store sales, ex-fuel down 1.6%. Adjusted net earnings fell...
05 May 2017
We look at the details behind Sobeys’ ‘Project Sunrise’, which is designed to simplify its business, unlock its national scale and significantly reduce costs. The start of the turnaround at Sobeys This initiative has been launched by Sobeys’ President and CEO, Michael Medline, who was recently appointed to lead a turnaround of the business. The retailer has faced several challenges over the...
05 May 2017
As Sobeys announces a major change program , Project Sunrise, we look at the implications for the business and its trading partners. Can it execute its plan given the uncertainty which will exist in the business? Business transformation of this scale carries with it significant risk. For many employees, this will mean the loss of their positions, for others it creates uncertainty. The leve...
29 March 2017
The Jim Pattison Group, which also owns the Overwaitea Food Group, has acquired Quality Foods, a 13-store Vancouver Island grocery chain. Quality Foods brand expected to remain This acquisition follows on from a minority stake which the Jim Pattison group took in Quality Foods in 2012. The business which was established by Ken Schley, John Briuolo, and Noel Hayward in 1982 will see two of t...