Latest news with #Stellarton
CTV News
a day ago
- Business
- CTV News
Sobeys and Safeway parent Empire Co. reports Q4 profit up, raises dividend
STELLARTON — Empire Co. Ltd. raised its quarterly dividend as it reported its fourth-quarter profit and sales rose compared with a year ago. The grocery retailer, which operates Sobeys, Safeway and other banners, says it will now pay a quarterly dividend of 22 cents per share, up from 20 cents. The increased payment to shareholders came as Empire says it earned a profit attributable to owners of the company of $173 million or 74 cents per diluted share for the quarter ended May 3. The result was up from a profit of $149 million or 61 cents per diluted share a year ago. Sales for the quarter totalled $7.64 billion, up from $7.41 billion in the same quarter last year. Same-store rose 3.0 per cent as same-store sales for fuel fell 7.8 per cent driven by lower prices due to the removal of the government carbon tax. Food same-store sales rose 3.8 per cent. On an adjusted basis, Empire says it earned 74 cents per diluted share in its latest quarter, up from an adjusted profit of 63 cents per diluted share a year ago. This report by The Canadian Press was first published June 19, 2025.
Globe and Mail
a day ago
- Business
- Globe and Mail
Sobeys parent Empire beats profit growth estimates, raises dividend
Grocery retailer Empire Co. Ltd. EMP-A-T beat analysts' estimates for profit growth in the fourth quarter, reporting that its store chains such as FreshCo and Sobeys took market share from competitors. The Stellarton, N.S.-based company reported on Thursday that sales grew in both the company's FreshCo discount stores, as well as its full-service grocery stores such as Sobeys, Safeway and IGA. Same-store sales – an important industry metric that tracks sales growth not tied to new store openings – were up 3 per cent in the quarter ended May 3, compared to the same period last year. Empire reported net earnings grew to $173-million or 74 cents per share in the fourth quarter, compared to $149-million or 61 cents per share the prior year. That exceeded analysts' expectations of $164.5-million or 71 cents per share, according to the consensus estimate from S&P Capital IQ The company also announced a 10-per-cent increase in its quarterly dividend paid to shareholders. Fourth-quarter sales grew to $7.6-billion, up 3 per cent compared to the prior year, driven by strong performance at grocery stores, partly offset by lower sales at the company's gas stations as fuel prices fell. The expansion of the Farm Boy and FreshCo store chains contributed to profit growth, as did initiatives aimed at reducing 'shrink,' an industry term for products that are lost before they can be sold – such as through theft or spoilage. This time last year, Empire made the decision to pull back on the pace of expansion of its Voilà e-commerce service, saying the market for online groceries in Canada was smaller than expected. After ending its exclusive partnership with technology provider Ocado Group PLC earlier than planned, Empire launched partnerships with third-party delivery companies Instacart and Uber Eats, which have contributed to growth. Online sales rose by 80.2 per cent in the quarter. The company continues to cut costs in its online service as it seeks to reach profitability. Construction of a fourth e-commerce distribution centre, underway in Vancouver, remains on hold, and will resume 'once e-commerce penetration rates in Canada increase,' according to a press release issued on Thursday.
Yahoo
a day ago
- Business
- Yahoo
Sobeys and Safeway parent Empire Co. reports Q4 profit up, raises dividend
STELLARTON — Empire Co. Ltd. raised its quarterly dividend as it reported its fourth-quarter profit and sales rose compared with a year ago. The grocery retailer, which operates Sobeys, Safeway and other banners, says it will now pay a quarterly dividend of 22 cents per share, up from 20 cents. The increased payment to shareholders came as Empire says it earned a profit attributable to owners of the company of $173 million or 74 cents per diluted share for the quarter ended May 3. The result was up from a profit of $149 million or 61 cents per diluted share a year ago. Sales for the quarter totalled $7.64 billion, up from $7.41 billion in the same quarter last year. Same-store rose 3.0 per cent as same-store sales for fuel fell 7.8 per cent driven by lower prices due to the removal of the government carbon tax. Food same-store sales rose 3.8 per cent. On an adjusted basis, Empire says it earned 74 cents per diluted share in its latest quarter, up from an adjusted profit of 63 cents per diluted share a year ago. This report by The Canadian Press was first published June 19, 2025. Companies in this story: (TSX:EMP.A) The Canadian Press
Yahoo
6 days ago
- Yahoo
He thought he was calling Air Canada. The airline says it wasn't them
A Stellarton, N.S., man says he was baffled when he discovered his $2,000 non-refundable airline ticket to Texas was cancelled. He was even more baffled when he reached out to Air Canada, only to be told the airline's records showed that the cancellation had been made online and that they were unable to give him a refund, as per the fare rules of his ticket. "Every dollar counts," said Jeff Richardson. "We're living paycheque to paycheque, and $2,000 is a lot of money." After seven months of back and forth, Air Canada said this week they will refund Richardson's ticket. Richardson says he welcomes the refund, but remains frustrated with the long wait for a resolution. Richardson booked his flight on Oct. 22 directly through the Air Canada website. He says he was having trouble selecting his seat online, so he called the airline for assistance. He says he found a number online for Air Canada starting with 1-833, and spoke to a representative who said they worked for Air Canada. Richardson believed he was talking to the airline when he shared details about his booking and credit card information to reserve seats. However, in a statement to CBC News, Air Canada says the number is not theirs. That same day, he received a charge on his credit card of more than $200 from something called "AirReservation," which is not affiliated with Air Canada. Shortly after, he was alerted that his ticket had been cancelled. When he called the number back to complain, he says the line seemed to be busy. Air Canada says it's possible that whoever was posing as the airline could have obtained enough personal information from the customer to cancel the flight. "Based on these findings, we will reimburse this customer and ensure he pays the original price quoted for a replacement ticket," said the airline. "This could serve as a cautionary tale that people should be careful to make sure they know who they are dealing with in online or telephone transactions and only use certified and official sources of information." CBC News called the number in question on June 10, and the person who answered identified herself as a representative of Air Canada. The person said they could cancel tickets for a fee and assist with arranging seating. Richardson says he remembers taking the number from the Air Canada website. It's not clear what happened, but he may have fallen victim to a spoofing attack, when a fraudster creates a copy of a website to make it appear authentic while adding false information to mislead or scam customers. The fake website could turn up in search engine results or have a URL that is similar to the real website. Richardson says that he asked Air Canada to provide the IP address of the device used to cancel the booking through a request under the Personal Information Protection and Electronic Documents Act (PIPEDA). The record showed that the device that cancelled the ticket online was tied to an IP address in India. Nur Zincir-Heywood, a Halifax-based cybersecurity expert, said the IP address can also be spoofed, meaning it can be modified to appear from a different location. So it does not necessarily mean that whoever cancelled the ticket is really in India. This makes it harder to pinpoint where the scammers are and hold them to account. "I can understand and really have empathy for the customer here because we could be in the same shoes," she said. In the end, Richardson ended up booking another flight and went to Texas in November for a work conference. He says he will be extra careful from now on to ensure he is using the legitimate website and contact information for a company. Gábor Lukács, founder of advocacy group Air Passenger Rights, says it should still not be all up to the client to protect themselves. He said Air Canada should take an active role in fighting these kinds of fraud. "Air Canada is a large corporation. It is expected to operate a system that does not lend itself to fraud," he said, noting that adding a two-factor verification system to ticket modifications may help passengers remain protected. MORE STORIES
Yahoo
6 days ago
- Yahoo
He thought he was calling Air Canada. The airline says it wasn't them
A Stellarton, N.S., man says he was baffled when he discovered his $2,000 non-refundable airline ticket to Texas was cancelled. He was even more baffled when he reached out to Air Canada, only to be told the airline's records showed that the cancellation had been made online and that they were unable to give him a refund, as per the fare rules of his ticket. "Every dollar counts," said Jeff Richardson. "We're living paycheque to paycheque, and $2,000 is a lot of money." After seven months of back and forth, Air Canada said this week they will refund Richardson's ticket. Richardson says he welcomes the refund, but remains frustrated with the long wait for a resolution. Richardson booked his flight on Oct. 22 directly through the Air Canada website. He says he was having trouble selecting his seat online, so he called the airline for assistance. He says he found a number online for Air Canada starting with 1-833, and spoke to a representative who said they worked for Air Canada. Richardson believed he was talking to the airline when he shared details about his booking and credit card information to reserve seats. However, in a statement to CBC News, Air Canada says the number is not theirs. That same day, he received a charge on his credit card of more than $200 from something called "AirReservation," which is not affiliated with Air Canada. Shortly after, he was alerted that his ticket had been cancelled. When he called the number back to complain, he says the line seemed to be busy. Air Canada says it's possible that whoever was posing as the airline could have obtained enough personal information from the customer to cancel the flight. "Based on these findings, we will reimburse this customer and ensure he pays the original price quoted for a replacement ticket," said the airline. "This could serve as a cautionary tale that people should be careful to make sure they know who they are dealing with in online or telephone transactions and only use certified and official sources of information." CBC News called the number in question on June 10, and the person who answered identified herself as a representative of Air Canada. The person said they could cancel tickets for a fee and assist with arranging seating. Richardson says he remembers taking the number from the Air Canada website. It's not clear what happened, but he may have fallen victim to a spoofing attack, when a fraudster creates a copy of a website to make it appear authentic while adding false information to mislead or scam customers. The fake website could turn up in search engine results or have a URL that is similar to the real website. Richardson says that he asked Air Canada to provide the IP address of the device used to cancel the booking through a request under the Personal Information Protection and Electronic Documents Act (PIPEDA). The record showed that the device that cancelled the ticket online was tied to an IP address in India. Nur Zincir-Heywood, a Halifax-based cybersecurity expert, said the IP address can also be spoofed, meaning it can be modified to appear from a different location. So it does not necessarily mean that whoever cancelled the ticket is really in India. This makes it harder to pinpoint where the scammers are and hold them to account. "I can understand and really have empathy for the customer here because we could be in the same shoes," she said. In the end, Richardson ended up booking another flight and went to Texas in November for a work conference. He says he will be extra careful from now on to ensure he is using the legitimate website and contact information for a company. Gábor Lukács, founder of advocacy group Air Passenger Rights, says it should still not be all up to the client to protect themselves. He said Air Canada should take an active role in fighting these kinds of fraud. "Air Canada is a large corporation. It is expected to operate a system that does not lend itself to fraud," he said, noting that adding a two-factor verification system to ticket modifications may help passengers remain protected. MORE STORIES
