Grocery store chain Sobeys Inc. will close about 50 underperforming stores across Canada following its $5.8-billion acquisition of Safeway.
The company made the announcement in an earnings release on Thursday from Empire Inc., parent company of Sobeys.
"During the fourth quarter of fiscal 2014, Sobeys completed a detailed full review of its retail store network," the company said. "Based on this detailed review, Sobeys has determined that consistently underperforming stores, representing approximately 50 stores … and 3.8 per cent of the total retail network gross square footage will close."
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