Slide 1: Q2 F2022 Earnings
Q2 F2022 Earnings December 9, 2021
Slide 2: Second Quarter Highlights
Second Quarter Highlights • Earnings per share of $0.66 compared to $0.60 last year. • Two-year EPS growth up 29.4%, adjusted for the Crombie REIT unusually large property disposal ($0.06) in Q2 F20. • Same-store sales excluding fuel decreased by 1.3% compared to higher COVID impacted sales last yea
Slide 3: Second Quarter Financial Summary
Second Quarter Financial Summary Quarter 2 Actual Last Year Sales $7,318.3 $6,975.4 Same-store sales, excluding fuel (1.3%) 8.7% Gross Profit $1,850.8 $1,751.1 Gross margin 25.3% 25.1% Selling and Administrative Costs $1,554.2 $1,462.6 Selling and administrative margin 21.2% 21.0% EBITDA $565.2 $513
Slide 4: Outlook
Outlook The Company and the industry continue to be affected by the novel coronavirus (“COVID-19” or “pandemic”). Recent relaxation of COVID-19 restrictions by government agencies has increased levels of food consumption outside of the home and related reductions in grocery industry volumes. Managem
Slide 5: Project Horizon
Project Horizon 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: 1) Growth in market share Ben
Slide 6: Project Horizon – Discount Expansion West
Project Horizon – Discount Expansion West OVERVIEW DISCOUNT EXPANSION TO WESTERN CANADA Empire expects to convert up to 25% of the 255 Safeway and Sobeys full-service format stores in Western Canada to the FreshCo discount format. The Company opened one FreshCo location in Western Canada during the
Slide 7: Project Horizon – Voilà Timeline
Project Horizon – Voilà Timeline December 10, 2020: March 10, 2021: Location of CFC #3 announced in Calgary, Alberta; will deliver to First CFC #1 spoke(1) location open January 22, 2018: customers in the first half of 2023. Building construction for CFC #2 complete – Sobeys signs agreement
Slide 8: 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. • In fiscal 2021, the Company invested $679.2 million in capital expenditures, in line with management’s previously disclosed Number of locations
Slide 9: CEO's Direct Reports
CEO’s Direct Reports Michael Medline President & Chief Executive Officer Pierre Vivek Mike Sarah Matt Michael Simon Sandra Doug Danielle Mohit St-Laurent Sood Venton Joyce Reindel Vels Gagné Sanderson Nathanson Amirault Grover Chief Related Discount E-commerce Chief Chief Marketing General Chief of
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