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Empire Company Ltd (EMPa.TO)

EMPa.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Empire Company Reports Q1 Adjusted Earnings Per Share C$0.37
Thursday, 13 Sep 2018 06:00am EDT 

Sept 13 (Reuters) - Empire Company Ltd ::EMPIRE COMPANY REPORTS FISCAL 2019 FIRST QUARTER RESULTS.Q1 ADJUSTED EARNINGS PER SHARE C$0.37.Q1 EARNINGS PER SHARE C$0.35.Q1 EARNINGS PER SHARE VIEW C$0.42 -- THOMSON REUTERS I/B/E/S.QTRLY SAME-STORE SALES EXCLUDING FUEL INCREASED 1.3% (1.8% EXCLUDING PHARMACY).MOVING FORWARD, EXPECT THAT WILL BEGIN TO RECOVER COST PRESSURES THAT HAVE BEEN INCURRED.PROJECT SUNRISE TRANSFORMATION ON TRACK.QTRLY SALES $ 6,460.3 MILLION VERSUS $ 6,273.2 MILLION.EMPIRE COMPANY - PROJECT SUNRISE TRANSFORMATION EXPECTED TO RESULT IN AT LEAST $500 MILLION IN ANNUALIZED BENEFITS BY FISCAL 2020.EXPECTS TO INCUR INCREASED LABOUR COSTS AS A RESULT OF MINIMUM WAGE INCREASES IN ONTARIO AND ALBERTA AND OTHER EFFECTS.EMPIRE COMPANY - ESTIMATES UNMITIGATED FINANCIAL IMPACT OF MINIMUM WAGE INCREASES, OTHER IMPACTS WITH WAGE PARITY, COULD BE UP TO $90 MILLION IN FISCAL 2019.CONTINUES TO DEVELOP FURTHER PLANS TO MITIGATE INCREASED LABOUR COSTS IMPACTS FOR FISCAL 2019 ONWARD.EMPIRE COMPANY - ESTIMATES EFFECT, PRIOR TO ANY MITIGATION, OF HEALTHCARE REFORM CHANGES MAY BE TO REDUCE ANNUAL INCOME BEFORE TAXES BY UP TO $40 MILLION.  Full Article

Empire Co Posts Q2 Adjusted Earnings Per Share C$0.27
Wednesday, 13 Dec 2017 06:00am EST 

Dec 13 (Reuters) - Empire Company Ltd ::EMPIRE COMPANY REPORTS IMPROVED FISCAL 2018 SECOND QUARTER RESULTS.Q2 ADJUSTED EARNINGS PER SHARE C$0.27.Q2 LOSS PER SHARE C$0.09.Q2 EARNINGS PER SHARE VIEW C$0.25 -- THOMSON REUTERS I/B/E/S.- QTRLY SAME-STORE SALES EXCLUDING FUEL INCREASED 0.4%.- ‍PROJECT SUNRISE IS EXPECTED TO RESULT IN APPROXIMATELY $500 MILLION IN ANNUALIZED COST SAVINGS BY FISCAL 2020​.- QTRLY SALES $6.03 BILLION VERSUS $5.93 BILLION.Q2 EARNINGS PER SHARE VIEW C$0.25, REVENUE VIEW C$6.05 BILLION -- THOMSON REUTERS I/B/E/S.EMPIRE COMPANY - DETERMINED ONE-TIME COSTS FROM SEVERANCE, RELOCATION, OTHER INITIATIVE ANNOUNCED IN JUNE WILL NOT EXCEED $240 MILLION.EMPIRE COMPANY - ‍DEVELOPED PLANS TO MITIGATE IMMEDIATE IMPACT OF MINIMUM WAGE, BILL 148 INCREASES, EXPECTS PLANS TO OFFSET EFFECT OF INCREASES IN 2018​.  Full Article

Empire Company reports Q1 earnings per share C$0.20
Thursday, 14 Sep 2017 06:16am EDT 

Sept 14 (Reuters) - Empire Company Ltd ::Empire Company reports improved fiscal 2018 first quarter results.Q1 adjusted earnings per share C$0.32.Q1 earnings per share C$0.20.Q1 earnings per share view C$0.22 -- Thomson Reuters I/B/E/S.Empire Company ltd qtrly ‍same-store sales excluding fuel increased 0.5 pct​.Qtrly ‍sales $ 6,273.2 million versus. $ 6,186.6 million ​.Empire Co -‍estimates unmitigated financial impact of proposed minimum wage increases in Ontario, Alberta could be up to about $25 million in fiscal 2018​.Empire Company Ltd - ‍ project sunrise launched in Q4 2017 to simplify organizational structures and reduce costs on track​.Empire Co - ‍estimates unmitigated financial impact of proposed minimum wage increases in Ontario, Alberta could be up to about $70 million in fiscal 2019​.Empire Company - plan to mitigate immediate impact of proposed minimum wage raises in 2018 that are above and beyond expected project sunrise savings​.Q1 revenue view C$6.18 billion -- Thomson Reuters I/B/E/S.  Full Article

Empire Co reports Q4 earnings per share C$0.11
Wednesday, 28 Jun 2017 06:00am EDT 

June 28 (Reuters) - Empire Company Ltd :Empire Company reports fiscal 2017 fourth quarter and full year results.Q4 adjusted earnings per share C$0.18.Q4 earnings per share C$0.11.Q4 earnings per share view C$0.12 -- Thomson Reuters I/B/E/S.Qtrly Sobeys' same-store sales excluding fuel decreased 1.6 percent.Empire Company Ltd - Planned fiscal 2018 capital expenditures set at $350 million.Qtrly sales $5,798.9 million versus. $6,283.2 million.Empire Company Ltd - Board announced an increase in Empire's annual dividend per share, paid quarterly, from $0.41 per share to $0.42 per share.Q4 revenue view C$5.70 billion -- Thomson Reuters I/B/E/S.Empire Company Ltd - Announced an increase in co's annual dividend per share, paid quarterly, from $0.41 per share to $0.42 per share.Empire Company - Expects to incur approximately $200 million in one-time costs in first half of fiscal 2018.  Full Article

Empire Co says to deliver $500 mln in annualized savings by 2020
Thursday, 4 May 2017 07:30am EDT 

May 4 (Reuters) - Empire Company Ltd :Empire launches major transformation initiative to simplify its business, unlock national scale and significantly reduce costs.Company to deliver $500 million in annualized savings by 2020.Empire company - annualized cost savings will come from collapsing multiple, independent regions into largely national, functionally-led structure.Initial results from transformational initiative are not expected to be reflected until end of calendar 2017.Empire company - initial one-time costs will begin to be expensed in q4 of fiscal 2017 with majority of costs expensed in first half of fiscal 2018.  Full Article

Empire appoints Michael Vels as chief financial officer
Wednesday, 26 Apr 2017 08:30am EDT 

April 26 (Reuters) - Empire Company Ltd ::Empire appoints Michael Vels as chief financial officer - Clinton Keay assumes role of executive vice president technology and lead of company's transformation office.Empire Company Ltd - Vels was most recently chief financial officer of hydro one.Empire Company Ltd- Clinton Keay who served as interim CFO will assume role of executive vice president, technology and lead of transformation office.  Full Article

Empire Co appoints Michael Medline as president and CEO
Thursday, 12 Jan 2017 04:28pm EST 

Empire Company Ltd - : Michael Medline appointed president and CEO of Empire Company Limited .Medline will also serve on board of directors of empire.  Full Article

UPDATE 1-Canada's Empire Co to acquire Farm Boy in C$800 mln deal

Sept 24 Canadian food retailer Empire Co Ltd said on Monday it would acquire privately held grocer Farm Boy Inc for an enterprise value of C$800 million ($618 million) to increase its presence in Ontario.