Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
BelGioioso - Burrata & Stracciatella
Sobeys Streamlines Executive Positions as Stock Rises

Sobeys Streamlines Executive Positions as Stock Rises


STELLARTON, NS
Friday, October 13th, 2017

As part of its ongoing Project Sunrise restructuring plan, Canadian retailer Sobeys has announced it will continue to streamline its executive positions in order to limit costs and grow its bottom line. The Chronicle Herald noted, in a report, that Sobeys is planning to eliminate 75 executive positions at different offices across Canada.

Michael Medline, President and CEO, Empire Company Limited“The grocery business is highly competitive and our regionally-based structure slowed us down,” said Michael Medline, President and Chief Executive Officer, in a statement. “As we move to a national, functionally-led company, we have an aggressive goal to transform our organization and leverage our size and scale,”

The company introduced “Project Sunrise” this May, a program designed to deliver $500 million in annualized savings by 2020. At the time of the announcement, our sister publication reported, the company said that cost savings will come from the following:

  • Collapsing multiple, independent regions into a largely national, functionally-led structure. This will simplify the way the company conducts business and will result in a reduced workforce
  • Simplifying how the company collaborates with vendors while leveraging its purchasing scale as a $24 billion national company
  • Driving enterprise-wide efficiencies and productivity initiatives

Medline noted, in a statement to The Telegram, that after Sobeys completes Project Sunrise, the company will have a simpler, leaner structure and be more efficient, and better prepared to leverage its $24-billion national scale.

“Change of this magnitude is not easy on our employees, but we remain committed to making tough decisions, and executing the necessary changes, to ensure our future success,” Medline said. “This will free us up to be extremely nimble, grow market share, and thrill our customers in the more than 1,500 communities that we will continue to operate in.”

So far, the company's strategy seems to be succeeding in a big way. After the announcement went public, Empire Company, Sobeys’ parent company, saw its stock rise 41 cents, or 1.88 per cent, from $21.84 to $22.25 as of the end of trading on Tuesday, October 10th.

For more on Sobeys' Project Sunrise, read our sister publication AndNowUKnow’s report, here.

Sobeys
Topics:


Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperatureBelGioioso - Burrata & Stracciatella

Have a new product, press release or story idea?

Let us know

In This Story


We're focused on food, driven by fresh and superior customer service.

American Butter Institute Urges FDA to Address Mislabeled “Butter” Products

The company urges the USDA to take prompt enforcement action against seven “butter” substitutes that allegedly violate the agency’s food labeling requirements.
View Press Release

Harvest A Great Time This Fall With These Hampton Farms Recipes On Your Table

The company partners with and supports local farms to seed and harvest all its peanuts.
View Press Release

Beetology Introduces New Beverages

The company launches cold-pressed, simple, nutrition-packed wellness juices made from nature's superfood—beets.
View Press Release

The Spice Lab is Now USDA NOP Organic Certified

The USDA Organic seal assures consumers that products are 95% or more certified organic.
View Press Release

Valio Unveils On-Trend Food Innovations and Ingredients Solutions at SIAL Paris

The company plans to showcase its latest food innovations and tailor-made ingredients solutions at the upcoming show.
View Press Release

Charlotte-Based Hissho Sushi Makes N.C. Mid-Market Fast 40 List

This year marks 20 years since Hissho Sushi was founded in Charlotte, NC.
View Press Release

Anheuser-Busch Inbev & DS Smith Plastics Named 2018 Excellence in Reusable Packaging Award Winners

RPA announces two winners in the 2018 Excellence in Reusable Packaging award program.
View Press Release

It's Pumpkin Spice Season!

Litehouse debuts a fresh look for its line of deliciously indulgent caramel dips and a limited-edition flavor: Pumpkin Spice Caramel.
View Press Release

Time to Step Up Your Fall Menu Plan; Pereg Natural Foods Gets You Started

Suffering from pumpkin spice fatigue? Here are 14 savory reasons why you still need pumpkin spice in your life.
View Press Release

New Snack Bars Take the Tahini Craze to Healthy Delicious Heights

Absolutely Gluten Free introduces TahiniBAR, the energy bar made from sesame seeds, in three exciting flavors.
View Press Release