Sobeys Continues To Record Positive Figures; Expanding In Convenience

Canadian retailer Sobeys has reported positive figures for the second quarter of its fiscal year, with sales up by 3.4% to US$3.98bnn and same-store sales increasing by 1.9%. Operating profits for the period were up by 8% to reach US$109.8mn, implying that this growth has not been driven by simply cutting prices. These results represent a continuation of the firm's first quarter performance, when revenues increased by 3.2% and same-stores sales rose by 1.7%. In conjunction with its latest results Sobeys announced the purchase of 250 petrol station outlets from Shell Canada, a move which fits with the growing opportunity

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