Empire Co Q1 Net Earnings Rise 9.9% on Fuel Surge
Empire Co. delivered record Q1 results with EPS up 14.3% to C$1.04, driven by an 18.4% surge in fuel sales and strong e-commerce growth. Management has raised its 2027 store opening target to over 25 locations while leveraging its Canadian supplier relationships to capitalize on trade-war-driven consumer sentiment.
GN markets/earnings (en-US) highlights CEO Pierre St-Laurent's comments on how escalating Canada-U.S. trade tensions are boosting consumer interest in supporting domestic brands, reinforcing Empire’s positioning through its locally operated banners like Sobeys and Safeway.
Source: GN markets/earnings (en-US)According to GN markets/earnings (en-US), Empire Co. has accelerated its expansion plans, now targeting over 25 new store openings in fiscal 2027 compared to the previous forecast of more than 20. The company also confirmed a capital spending budget of approximately C$850 million while reaffirming its goal for adjusted EPS growth at the high end of its 8% to 11% long-term framework.
Source: GN markets/earnings (en-US)Per GN markets/earnings (en-US), Empire Co. CFO Constantine Pefanis noted that EBITDA hit a record C$712 million, driven by an 80 basis point improvement in SG&A rates and strong full-service execution that offset fuel supply-chain costs.
Source: GN markets/earnings (en-US)Empire Co. Ltd. posted record first-quarter earnings of $1.04 per share, driven by an 18.4% spike in fuel sales that offset slower growth in the grocery segment.
Source: GN auto stocks/consumer: retail earnings
