Canada · Delayed Price · Currency is CAD Empire Company Earnings Call Transcripts
Fiscal Year 2026
-
Q3 saw strong food sales growth, improved EPS, and disciplined cost control, despite a CAD 746 million e-commerce impairment. E-commerce restructuring and new partnerships are expected to drive future profitability, with continued investment in store growth and technology.
-
Core business delivered 12.5% adjusted EPS growth year-over-year, with food sales up 3.4% and gross margin expanding by 14 basis points. Investments in stores, technology, and e-commerce efficiency drove results, while disciplined cost control and new store expansion remain key priorities.
-
Fiscal 2026 began with strong core EPS growth, improved gross margin, and disciplined cost management. Same-store sales rose 1.9% despite lapping one-time events, and private label penetration increased. CapEx focused on new stores and technology, with Q2 sales trends ahead of Q1.
Fiscal Year 2025
-
The meeting featured unanimous approval of all formal business, strong financial results for fiscal 2025 and Q1 2026, and recognition of executive transitions. Strategic focus remains on local supply chains, innovation, and leadership succession, with continued investment in growth and community partnerships.
-
Q4 delivered strong financial results with 17.5% EPS growth and 3.8% same-store sales increase, driven by margin expansion and disciplined cost control. Capital allocation focuses on new store growth, a 10% dividend hike, and share repurchases, while consumer behavior normalizes and market share grows.
-
Q3 delivered solid same-store sales and margin growth, with e-commerce up 72% and strong operational execution. Risks from tariffs and currency remain, but supply is shifting to Canadian sources and cost initiatives continue to support results.
-
Q2 delivered 1.8% same-store sales growth, 48 bps gross margin improvement, and 12% e-commerce sales growth. Adjusted EPS rose 8.7% year-over-year, with strong performance in both full-service and discount channels, and continued investment in store expansion and digital partnerships.
-
Fiscal 2025 opened with record adjusted EPS, margin expansion, and strong e-commerce growth, as both full service and discount channels outperformed peers. Management expects gradual top-line improvement as consumer sentiment and market conditions recover.
Fiscal Year 2024
-
The meeting covered board elections, strong financial results, and strategic initiatives such as store network refresh, e-commerce growth, and ESG progress. All proposals passed unanimously, and leadership addressed economic challenges, productivity concerns, and industry collaboration on a Grocery Code of Conduct.
-
Q4 saw stable financial performance with improved gross margins and disciplined cost control, while e-commerce (Voilà) posted strong sales growth but remains unprofitable. Capital allocation remains disciplined, with a dividend increase and share buybacks planned for fiscal 2025.