Empire Co Ltd Class A · TSX:EMP.A
Empire Co Ltd Class A — Q4 2020 Earnings Presentation
10 slides from Empire Co Ltd Class A's earnings presentation, Jun 18, 2020
Slide 1: Q4 F2020 Earnings Call
Q4 F2020 Earnings Call June 18, 2020
Slide 2: CEO's Direct Reports
CEO’s Direct Reports Michael Medline President & Chief Executive Officer Pierre Vivek Mike Sarah Michael Simon Sandra Doug Vittoria Mohit St-Laurent Sood Venton Joyce Vels Gagné Sanderson Nathanson Varalli Grover Chief Operating Related Discount E-commerce Chief Human Marketing General Counsel Susta
Slide 3: Fourth Quarter Highlights
Fourth Quarter Highlights • Same-store sales excluding fuel increased by 18.0%. • Earnings per share of $0.66 compared to $0.45 last year. • Adjusted earnings per share of $0.67 compared to $0.46 last year. • Gross margin increased by 50 basis points. • Project Sunrise exceeds target for fiscal 2020
Slide 4: Successful Completion of Project Sunrise
Successful Completion of Project Sunrise In the fourth quarter of fiscal 2017, the Company launched Project Sunrise, a three-year transformation. As of the fourth quarter of fiscal 2020, Project Sunrise was successfully completed, exceeding management’s initial expectations of $500 million in net be
Slide 5: Fourth Quarter Financial Summary
Fourth Quarter Financial Summary Quarter 4 Fiscal 2020 (1)(2) Actual Last Year Actual Last Year Sales $7,012.4 $6,220.4 $26,588.2 $25,142.0 Same-store sales, excluding fuel 18.0% 3.8% 5.7% 2.7% Gross Profit $1,819.5 $1,577.5 $6,633.3 $6,083.6 Gross margin 25.9% 25.4% 24.9% 24.2% (3) Selling and Admi
Slide 6: COVID-19 Update
COVID-19 Update The recent novel coronavirus (“COVID-19” or “pandemic”) outbreak has resulted in restrictions by government authorities and the encouragement for Canadians to stay-at-home, leading to increased safety protocols in our stores and distribution centres, shifts in consumer demand and con
Slide 7: Discount Expansion to West & Store Closure, Conversion and Labour Buyout Costs
Discount Expansion to West & Store Closure, Conversion and Labour Buyout Costs OVERVIEW DISCOUNT EXPANSION TO WESTERN CANADA Sobeys expects to convert up to 25% of its 255 Safeway and Sobeys full service format stores in Western Canada to its FreshCo discount format. The Company continues to be on t
Slide 8: IFRS 16 Update
IFRS 16 Update IFRS 16 OVERVIEW • IFRS 16 intends to align the presentation of leased assets more closely to owned assets. • Impact of the standard has been reflected in the financial statements for the full fiscal 2020 year. • This standard will not impact Empire's strategy, business operations, or
Slide 9: Outlook
Outlook The pandemic has impacted how Canadians shop for food. Canadians are shopping less frequently and with larger basket sizes to reduce exposure to COVID-19. With this shift in shopping behavior, many are moving to one-stop-shop grocery stores that meet all their household needs and online groc
Slide 10: Disclaimers
Disclaimers Forward-Looking Information This presentation contains forward-looking statements which are presented for the purpose of assisting the reader to contextualize the Company’s financial position and understand management’s expectations regarding the Company’s strategic priorities, objective