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BRIEF-Empire Reports First Quarter Results

Published 2020-09-10, 06:47 a/m
© Reuters.
EMPa
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Sept 10 (Reuters) - Empire Company Ltd EMPa.TO :

* EMPIRE DELIVERS STRONG FIRST QUARTER FISCAL 2021 EARNINGS, MARKET SHARE GROWTH CONTINUES

* Q1 EARNINGS PER SHARE C$0.71

* Q1 EARNINGS PER SHARE ESTIMATE C$0.59 -- REFINITIV IBES DATA

* QTRLY SAME-STORE SALES EXCLUDING FUEL INCREASED BY 11.0%

* QTRLY FOOD RETAILING SALES C$7.35 BILLION VERSUS C$6.74 BILLION

* ALBERTA FRESHCO STORE LOCATION IS A NEW SITE LOCATED IN GRAND PRAIRIE AND IS EXPECTED TO OPEN IN WINTER OF FISCAL 2022

* SECOND FRESHCO LOCATION IS LOCATED IN SASKATCHEWAN AND WILL BE CONVERTING FROM A REGINA SOBEYS STORE

* SOBEYS STORE WILL CLOSE FOR RENOVATION IN WINTER OF FISCAL 2022 AND WILL RE-OPEN AS FRESHCO THAT SUMMER

* E-COMMERCE BUSINESSES IN QUEBEC AND BRITISH COLUMBIA EXPERIENCED SALES GROWTH OF ABOUT 370% IN Q1

* OVER PAST 14 WEEKS ENDED SEPTEMBER 5, 2020, CO'S SAME-STORE SALES GROWTH, EXCLUDING FUEL, AVERAGED ABOUT 8% TO 10%

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