Sobeys news

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...
16 March 2017
As Sobeys reports a challenging third quarter, we look at four key areas that the retailer is focusing on. 1. Simplifying the structure One of the big areas of improvement identified by new CEO, Michael Medline, is around simplifying the existing structure. The current structure is highly regionalised, making decision making slow and limiting the ability to use the scale of business. By rem...
23 January 2017
One month into the new year, several major retailers, including Loblaw, Target and Southeastern Grocers, have made changes to their leadership teams. Sarah Davis takes responsibility for day-to-day operations at Loblaw Following the appointment of George Weston as Chairman and CEO of George Weston Limited, Loblaw’s parent company, Sarah Davis has been appointed as President at Loblaw, with ...
13 January 2017
As Sobeys appoints Michael Medline as its new President and CEO, we take a look at four key issues likely to be sitting in his in-tray. Previously led Canadian Tire The appointment of Michael Medline comes following an extensive international search since the departure of Marc Poulin last summer. Medline is well known within the Canadian retail sector having served for than 15 years in a va...
15 December 2016
Sobeys' second quarter results reveal another challenging period for the retailer. We review the plans it’s putting in place to drive an improved performance. Sales and profits under pressure Sales fell by 2.1% to $5.9bn in Q2, with same-store sales, excluding fuel down 2.6%, reflecting the challenges which the retailer continues to see in the business. Driving sales growth remains the num...
12 December 2016
Sears Canada is partnering with two specialty retailers to operate food markets at its remodelled stores. Food viewed as a key traffic driver Although very few details have been released with regards to this launch, groceries are being introduced primarily to drive footfall to the retailer’s stores. Sears Canada continues to see a tough trading environment, with sales falling 21.1% in duri...
15 September 2016
As Sobeys reports a challenging first quarter, we look at the plans being put in place to drive a stronger performance. Sobeys’ first quarter sales fell by 1.0% to $6.2bn, with same-store sales (ex-fuel) down 1.2%. The retailer also saw a significant reduction in net earnings, down 39.9% to $65.4m. While the retailer continues to see challenges in Western Canada, related to its acquisition an...