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April 27, 2015 6:52 AM ET

Food and Staples Retailing

Company Overview of Sobeys Inc.

Company Overview

Sobeys Inc. engages in the food retailing business. It operates through five operating segments: Sobeys West, Sobeys Ontario, Sobeys Quebec, Sobeys Atlantic, and Lawtons. The company operates full service, fresh service, community services, price service, convenience service, and other format stores that provide groceries, fuel and convenience goods, healthcare and beauty products, health foods, and fresh foods. As of August 2, 2014, it owned or franchised approximately 1,500 stores in 10 provinces under the retail banners, such as Sobeys, Safeway, IGA, Foodland, FreshCo, Price Chopper, Thrifty Foods and Lawtons Drugs; and approximately 350 retail fuel locations. The company was founded in 1...

115 King Street

Stellarton, NS B0K 1S0

Canada

Founded in 1907

Phone:

902-752-8371

Key Executives for Sobeys Inc.

Chief Executive Officer, President and Chief Executive Officer of Empire Company Limited
Age: 52
Chief Financial & Administrative Officer
Age: 52
President of Multi-Format Operations
President of IGA Operations Business Unit
President of Operations - Safeway
Compensation as of Fiscal Year 2014.

Sobeys Inc. Key Developments

Sobeys Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended January 31, 2015

Sobeys Inc. reported earnings results for the third quarter and nine months ended January 31, 2015. For the quarter, the company reported net earnings attributable to owners of the parent were CAD 97.2 million, compared to CAD 6.0 million for the same quarter ended February 1, 2014. For nine months, net earnings attributable to owners of the parent were CAD 313.5 million, compared to CAD 147.1 million for the same period ended February 1, 2014.

Sobeys Announces Unaudited Earnings Results for the 13 Weeks and 39 Weeks Ended January 31, 2015

Sobeys announced unaudited earnings results for the 13 weeks and 39 weeks ended January 31, 2015. For the 13 weeks, the company reported sales of CAD 5,940.5 million compared to CAD 6,004.4 million a year ago. EBITDA was CAD 284.3 million compared to CAD 182.3 million a year ago. Adjusted EBITDA was CAD 271.9 million compared to CAD 270.1 million a year ago. Operating income was CAD 165.8 million compared to CAD 58.8 million a year ago. Adjusted net earnings were CAD 92.2 million compared to CAD 80.7 million a year ago. Net earnings were CAD 95.5 million compared to CAD 3.9 million a year ago. The decline in sales, as expected, was primarily a result of retail store divestitures, store closures associated with the network rationalization and the decline in oil prices impacting fuel sales in the food retailing segment. The increase in EBITDA was primarily the result of reduced transaction costs associated with the Canada Safeway acquisition of CAD 0.8 million, the one-time inventory adjustment of CAD 17.1 million in the prior year and synergies realized of CAD 39.2 million related to the Canada Safeway acquisition. Cash flow from operating activities was CAD 343.7 million compared to CAD 167.4 million a year ago. Property, equipment and investment property purchases were CAD 171.3 million compared to CAD 165.3 million a year ago. For the 39 weeks, the company reported sales of CAD 18,158.3 million compared to CAD 15,016.1 million a year ago. EBITDA was CAD 915.0 million compared to CAD 587.6 million a year ago. Adjusted EBITDA was CAD 912.5 million compared to CAD 702.3 million a year ago. Operating income was CAD 553.6 million compared to CAD 285.6 million a year ago. Adjusted net earnings were CAD 326.0 million compared to CAD 241.1 million a year ago. Net earnings were CAD 309.4 million compared to CAD 139.4 million a year ago.

Urban Barns Foods Canada Inc. Signs Memorandum of Understanding with Sobeys Quebec

Urban Barns Foods Inc. announced that Urban Barns Foods Canada Inc. has signed a memorandum of understanding dated September 22, 2014 with Sobeys Quebec for the purpose of establishing a collaborative business relationship between the two businesses. The memorandum of understanding is for the test-marketing of produce grown and supplied by Urban Barns to six Sobeys Quebec grocery stores under the IGA banner in the Laurentians and in the City of Montreal. The produce to be tested over the coming weeks will be lettuce, basil and various varieties of micro-greens.

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Target
Private Placement
July 9, 2014
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Sobeys Inc., Four Plants in Edmonton, Winnipeg, and Burnaby
 

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