Empire Q1 Profit Up 22%

Sobeys parent Empire Co Ltd (OTC:

) reported a 22% increase in its Q1 profit. Empire's quarterly net earnings surged to C$108.9 million ($111.59 million), or C$1.60 a share, versus C$89.2 million, or C$1.31 a share, in the year-ago period. Its total sales climbed 9.7% to C$4.56 billion. However, same-store sales gained 1.8%.