Empire Company Ltd. says its web earnings hit $125.7 million in its newest quarter as its Sobeys grocery store chain rebounded from a November cyberattack.
The grocery retailer operator says the outcomes for its third quarter in contrast with $203.4 million in web earnings throughout the identical interval the 12 months earlier than.
The firm’s earnings for the interval ended Feb. 4 amounted to 49 cents per share, down from 77 cents per share within the third quarter of the prior fiscal 12 months.
Its adjusted web earnings totalled $164.8 million, down from $203.4 million a 12 months earlier.
The grocery chain operator says the cyberattack that shut down its pharmacy providers and hampered self-checkout machines, reward card use and the redemption of loyalty factors resulted in a $15 million hit to its earnings.
It provides that the incident quickly diminished gross sales and hindered the effectiveness of its operations, particularly when rolling out promotions and utilizing administration instruments.
This report by The Canadian Press was first printed March 16, 2023.
