Empire Co Ltd Class A · TSX:EMP.A
Empire Co Ltd Class A — Q2 2020 Earnings Presentation
7 slides from Empire Co Ltd Class A's earnings presentation, Dec 12, 2019
Slide 1: Q2 F2020 Earnings Call
Q2 F2020 Earnings Call December 12, 2019
Slide 2: CEO's Direct Reports
CEO’s Direct Reports Michael Medline President & Chief Executive Officer Pierre Vivek Mike Sarah Mike Simon Sandra Doug Vittoria Mohit St-Laurent Sood Venton Joyce Vels Gagné Sanderson Nathanson Varalli Grover Executive Executive General Senior Vice Chief Executive Senior Vice Senior Vice Vice Presi
Slide 3: Second Quarter Highlights
Second Quarter Highlights • Same-store sales excluding fuel increased by 2.0%. • Earnings per share of $0.57 compared to $0.38 last year. • Adjusted earnings per share of $0.58 compared to $0.40 last year. • Crombie REIT’s disposal of a 15 property portfolio positively impacted Empire’s adjusted EPS
Slide 4: Second Quarter Financial Summary
Second Quarter Financial Summary Quarter 2 (1)(2) Actual Last Year Sales $6,436.5 $6,214.0 Same-store sales, excluding fuel 2.0% 2.5% Gross Profit $1,595.7 $1,482.1 Gross margin 24.8% 23.9% (3) Selling and Administrative Costs (adjusted) $1,346.8 $1,321.3 Selling and administrative margin 20.9% 21.3
Slide 5: 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. Two years into execution of this
Slide 6: 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 second quarter and year-to-date of fiscal 2020. • This standard will not impact Empire's strategy
Slide 7: Disclaimers
Disclaimers Forward-Looking Information This document contains forward-looking statements which are presented for the purpose of assisting the reader to contextualize Empire Company Limited’s (“Empire” or the “Company”) financial position and understand management’s expectations regarding the Compan