Sobeys Parent Empire Turns Focus to Growth After Years-Long Transformation
Empire plans 70 new stores over three years and about $850 million in capital spending as it targets price-sensitive shoppers.
- On Thursday, Empire reported fourth-quarter profit of $212 million and sales of $7.81 billion, prompting the grocer to raise its quarterly dividend to 24.25 cents per share from 22 cents.
- CEO Pierre St-Laurent announced plans to open 70 new stores over the next three years, stating "More than 75 per cent are going in discount" to capture price-sensitive shoppers.
- Following the end of its exclusive Ocado partnership, Empire struck new deals with Instacart, Uber Eats, and Door Dash, contributing to 6-per-cent e-commerce sales growth during the fourth quarter.
- The grocer is actively pushing back against supplier cost-increase requests linked to fuel prices, which Empire claims has kept price hikes lower than overall food inflation in Canada.
- For fiscal 2027, Empire plans to invest about $850 million in capital spending, allocating half the budget to renovations and new store expansion and 25 per cent to IT and business development.
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Empire increased its quarterly dividend after announcing an increase in profits and revenues in the fourth quarter compared to the same period last year.
Empire Company sees sales reach $31.95 billion in Fiscal 2026, more growth planned for FreshCo brand
In fiscal 2027, the Company expects to open approximately 15 new FreshCo stores across Western Canada, Ontario and Atlantic Canada. The post Empire Company sees sales reach $31.95 billion in Fiscal 2026, more growth planned for FreshCo brand appeared first on Retail Insider.
Empire Company Limited 2026 Q4 – Results – Earnings Call Presentation (TSX:EMP.A:CA) 2026-06-18
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