Sobeys plans store closures - The Packer

Sobeys plans store closures

06/27/2014 04:31:00 PM
Pamela Riemenschneider

Fifty Sobeys stores, mostly in western Canada, are up for closure after the Stellarton, Nova Scotia-based retailer’s recent review of its store network.

Empire Company Ltd., parent company of Sobeys, said during its fourth quarter earnings report said the review “logically follows the acquisition of Canada Safeway which was completed in the third quarter of fiscal 2014.”

Stores up for closure, 60% of which are in Canada, comprise about 3.8% of the company’s total gross square footage and were “consistently underperforming,” according to the earnings call news release.

The fifty store closure is in addition to 30 locations the company was ordered to sell as part of last year’s acquisition of Canada Safeway. Sobeys said during the call it had sold all but one of those locations.

Sobeys operates more than 1,500 stores in 10 provinces. The company reported $5.94 billion in sales in the fourth quarter.

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I. Alraum    
Moose Jaw  |  July, 10, 2014 at 05:30 PM

I think the "corporate office" is making a mistake closing the Moose Jaw location. The new hospital is going up in the near vicinity. New condos are being built across the road. A large car dealership just opened in Sobey's west end. It is really handy for people living on the east side such as in the trailer court etc.It is a shame that people see the bottom line instead of customer service.

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