Slide 1: Q2 F2021 Earnings Call
Q2 F2021 Earnings Call December 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 Danielle Mohit St-Laurent Sood Venton Joyce Vels Gagné Sanderson Nathanson Amirault Grover Chief Related Discount E-commerce Chief Chief Marketing General Counsel Chief of Staff
Slide 3: Second Quarter Highlights
Second Quarter Highlights • Same-store sales excluding fuel increased by 8.7%. • Earnings per share of $0.60 compared to $0.57 last year. • Food Retailing net earnings increased 27.3%. • Gross margin increased by 30 basis points. • Project Horizon growth plan underway. • E-commerce sales growth of 2
Slide 4: Second Quarter Financial Summary
Second Quarter Financial Summary Quarter 2 Actual Last Year Sales $6,975.4 $6,436.5 Same-store sales, excluding fuel 8.7% 2.0% Gross Profit $1,751.1 $1,595.7 Gross margin 25.1% 24.8% Selling and Administrative Costs $1,462.6 $1,351.5 Selling and administrative margin 21.0% 21.0% EBITDA $513.4 $477.7
Slide 5: COVID-19 Update
COVID-19 Update The novel coronavirus (“COVID-19” or “pandemic”) began to impact the Company in February 2020 and resulted in restrictions by government authorities and the encouragement for Canadians to practice public health measures. Impacts on the Company include increased safety protocols in st
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. The Company has now confirmed 30 of approximately
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