Edition:
United States

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.