Empire Co Ltd Class A · TSX:EMP.A
Empire Co Ltd Class A — Q3 2021 Earnings Presentation
10 slides from Empire Co Ltd Class A's earnings presentation, Mar 10, 2021
Slide 1: Q3 F2021 Earnings Call
Q3 F2021 Earnings Call March 10, 2021
Slide 2: CEO's Direct Reports
CEO’s Direct Reports Michael Medline President & Chief Executive Officer Pierre Vivek Mike Sarah Michael Simon Sandra Doug Danielle Mohit St-Laurent Sood Venton Joyce Vels Gagné Sanderson Nathanson Amirault Grover Chief Related Discount E-commerce Chief Chief Marketing General Chief of Staff, Operat
Slide 3: Third Quarter Highlights
Third Quarter Highlights • Same-store sales growth, excluding fuel of 10.7%. • Earnings per share of $0.66 an increase of 47% compared to $0.45 last year. ▪ Includes $0.04 (2020 - $0.01) of Voilà dilution. ▪ For fiscal 2021, Voilà is expected to have a dilutive effect of approximately $0.18 after ta
Slide 4: Third Quarter Financial Summary
Third Quarter Financial Summary Quarter 3 Actual Last Year Sales $7,018.7 $6,395.2 Same-store sales, excluding fuel 10.7% 0.8% Gross Profit $1,803.9 $1,557.7 Gross margin 25.7% 24.4% Selling and Administrative Costs $1,508.2 $1,357.1 Selling and administrative margin 21.5% 21.2% EBITDA $533.5 $426.9
Slide 5: COVID-19 Update
COVID-19 Update The novel coronavirus (“COVID-19” or “pandemic”) began to impact the Company in February 2020 and has resulted in restrictions by government authorities, and the encouragement for Canadians to practice public health measures. This has continued to lead to increased safety protocols i
Slide 6: Project Horizon
Project Horizon New three-year growth strategy for core business expansion and e-commerce acceleration. Management targeting an incremental $500 million in annualized EBITDA, driving an improvement in EBITDA margin of 100 basis points by fiscal 2023. To be achieved through: Benefits are expected to
Slide 7: Project Horizon – Discount Expansion West
Project Horizon – Discount Expansion West OVERVIEW DISCOUNT EXPANSION TO WESTERN CANADA Empire 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 has now confirmed 37 of 65 locations in Western Canada –
Slide 8: Project Horizon – Voilà
Project Horizon – Voilà January 22, 2018: December 10, 2020: ▪ Sobeys signs agreement with Ocado to bring world’s leading ▪ Location of CFC #3 announced in Calgary, Alberta; will deliver to online grocery delivery solution to Canada. customers in the first half of 2023. ▪ Central Fulfilment Centre (
Slide 9: Project Horizon – Store Network Optimization
Project Horizon – Store Network Optimization • Over the course of Horizon (three years), Empire plans to renovate approximately 30% of its store network. Number of locations renovated • In fiscal 2021, capital spending is expected to be $650 million to $675 million with approximately half of this Q1
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