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BRIEF-Empire Company Q2 Adjusted Earnings Per Share C$0.40

Published 2018-12-13, 06:36 a/m
© Reuters.  BRIEF-Empire Company Q2 Adjusted Earnings Per Share C$0.40
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Dec 13 (Reuters) - Empire Company Ltd EMPa.TO :

* EMPIRE COMPANY REPORTS STRONG FISCAL 2019 SECOND QUARTER RESULTS

* Q2 ADJUSTED EARNINGS PER SHARE C$0.40

* Q2 EARNINGS PER SHARE C$0.38

* Q2 EARNINGS PER SHARE ESTIMATE C$0.32 -- REFINITIV IBES DATA

* QTRLY SAME-STORE SALES EXCLUDING FUEL INCREASED BY 2.5%

* Q2 SALES ROSE 3.1 PERCENT

* PROJECT SUNRISE IS EXPECTED TO GENERATE AT LEAST $500 MILLION IN ANNUALIZED BENEFITS BY END OF FISCAL 2020

* QTRLY SALES $6,214.0 MILLION VERSUS $6,026.1 MILLION

* COMPANY IS INCURRING INCREASED LABOUR COSTS AS A RESULT OF MINIMUM WAGE INCREASES IN ONTARIO AND ALBERTA

* Q2 REVENUE VIEW C$6.15 BILLION -- REFINITIV IBES DATA

* FIRST TWO MANITOBA FRESHCO STORES ARE ON TRACK TO OPEN IN WINNIPEG IN SPRING OF 2019

* CONTINUES TO DEVELOP FURTHER PLANS TO MITIGATE IMPACTS FROM INCREASED LABOUR COSTS FOR FISCAL 2019 ONWARD

* ESTIMATES UNMITIGATED FINANCIAL IMPACT OF MINIMUM WAGE INCREASES COULD BE UP TO $70 MILLION IN FISCAL 2019

* ESTIMATE OF UP TO $70 MILLION IN FISCAL 2019 IMPACT FROM MINIMUM WAGE INCREASES DECREASED FROM $90 MILLION PREVIOUSLY DISCLOSED

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