Empire Co Ltd, the operator of Canadian grocery chain Sobeys Inc, reported a lower quarterly profit and said it would close 50 underperforming stores.Empire said 60 percent of the closures would be in Western Canada and it expects cost savings to result in an improvement in net earnings.The company said sales would decline by about C$400 million ($370 million) but did not provide further details.Empire bought the Canadian arm of Safeway Inc for $5.7 billion to double its reach in the Western provinces and help it compete with U.S. retail giants such as Wal-Mart Stores Inc and Target Corp
Safeway Inc. (Safeway) is a food and drug retailer in North America. Shares of SWY remained unchanged at $34.12. In the past year, the shares have traded as low as $20.74 and as high as $36.03. On average, 3014660 shares of SWY exchange hands on a given day and today's volume is recorded at 0.
Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT remained unchanged at $58.06. In the past year, the shares have traded as low as $54.66 and as high as $73.50. On average, 5387940 shares of TGT exchange hands on a given day and today's volume is recorded at 100.
Wal-Mart Stores, Inc. (Walmart), operates retail stores in various formats globally. Shares of WMT remained unchanged at $75.62. In the past year, the shares have traded as low as $71.51 and as high as $81.37. On average, 5897020 shares of WMT exchange hands on a given day and today's volume is recorded at 0.
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