(Stellarton) Empire Company posted a net profit of 125.7 million for its most recent quarter on Thursday, as its supermarket chain Sobeys recovered from a cyberattack it suffered in November.
The grocery store operator behind the IGA and Rachelle-Béry chains in Quebec explained that its third quarter result compares with a net profit of 203.4 million for the same period last year.
Empire’s earnings per share were 49 cents for the quarter ended Feb. 4, down from 77 cents in the third quarter last year.
Its adjusted net profit totaled 164.8 million, down from 203.4 million last year.
The grocery store chain said the cyberattack that forced the closure of its pharmacy services, halted operation of self-checkout machines and prevented customers from redeeming gift cards and loyalty points cost it 15 million in the third quarter.
The incident also temporarily reduced salaries and undermined the efficiency of company operations, including the loss of advanced planning and promotional maximization tools.
