Slide 1: Q1 F2021 Earnings Call
Q1 F2021 Earnings Call September 10, 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 Related Discount E-commerce Chief Chief Marketing General Counsel Sustainability,
Slide 3: First Quarter Highlights
First Quarter Highlights • Same-store sales excluding fuel increased by 11.0%. • Earnings per share of $0.71 compared to $0.48 last year. Gain on sale from a significant real estate transaction of $0.08 per share. Collective Bargaining Agreement ratified in Alberta; lump sum payment of $0.04 per
Slide 4: First Quarter Financial Summary
First Quarter Financial Summary Quarter 1 Actual Last Year Sales $7,354.2 $6,744.1 Same-store sales, excluding fuel 11.0% 2.4% Gross Profit $1,848.6 $1,660.4 Gross margin 25.1% 24.6% Selling and Administrative Costs $1,512.1 $1,423.7 Selling and administrative margin 20.6% 21.1% EBITDA $582.5 $460.0
Slide 5: COVID-19 Update
COVID-19 Update The novel coronavirus (“COVID-19” or “pandemic”) began to impact the Company in February and resulted in restrictions by government authorities. This led to increased safety protocols in stores and distribution centres, and shifts in consumer demand and consumption. • Management’s to
Slide 6: Discount Expansion West and Store Closure & Conversion Costs
Discount Expansion West and Store Closure & Conversion Costs 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. During the quarter, the Company announced the next
Slide 7: 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. Benefits are expected to ramp up over the three-y
Slide 8: 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