Grocery store inflation may have peaked in
"While it is too early to definitively say that inflation has peaked, we're seeing some encouraging signs including the fact that the number and rate of cost increases from our suppliers is decreasing,"
"We started to become a little more confident on that about three or four weeks ago."
In July,
But he said supplier costs remained high — putting sustained pressure on retail prices.
However, with
Still, inflation is expected to continue shaping shopping habits as consumers look to save money.
Empire is seeing some shoppers shift to discount grocery stores, Medline said.
"
The grocery retailer's full-service stores are also performing well as the company's private-label brands and promotions attract value-seeking customers, Medline said.
"Our own-brands portfolio is on fire and delivering immense value to customers," he said, adding that sales of the grocer's in-house brands, such as Compliments, increased 9.5 per cent year-over-year in its most recent quarter.
Empire reported a first-quarter profit of
It's profit amounted to
The result compared with a profit of
Sales totalled
Empire said the growth in sales was driven by increased fuel sales, higher food inflation and the benefits from recent initiatives, including the expansion of its
Same-store sales for the quarter rose 3.3 per cent, while same-store sales, excluding fuel, gained 0.4 per cent.
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