The grocery horror story known as Sobey’s just seems to get worse. Q2 profit has slumped 70 percent. It is clearly related to the misbegotten $5.8 billion purchase of the Safeway chain in western Canada in 2013. Did the U.S. sellers of Safeway know just how difficult it would be for Sobey’s to integrate Safeway into its computer system? Sobey’s sure didn’t. A 2015 story makes it sound like Safeway was staffed by nitwits who couldn’t figure out how to use a computer. Probably not fair. But that was the original explanation for why customers had fled Safeway after the takeover. Sobey’s parent, Empire Company of Stellarton Nova Scotia, now says it needs consultants to figure out to make the place profitable. Ouch.
Sobey’s cash falls $14.3 million as staff flubs software
Sobey’s parents takes stunning 1.3 bln charge on Safeway
