Empire Reports Fiscal 2026 Third Quarter Results
Press Release
- Sales of $7,890 million, an increase of 2.1%
- Food sales increased by 3.0%; Same-store sales(1) growth – food increased by 2.0%
- (Loss) Earnings per share (“EPS”) of $(1.68) and adjusted EPS(1)(2) of $0.72
- Prior year EPS and adjusted EPS of $0.62
- As part of the Company’s e-commerce update, recognized impairment charges of $746 million
- Expects immediate benefits of approximately $95 million to annualized operating income
- Benefits are expected to begin in the fourth quarter of fiscal 2026 and reach run-rate in fiscal 2027
STELLARTON, NS,March 12, 2026 – Empire Company Limited (“Empire” or the “Company”) (TSX: EMP.A) today announced its financial results for the third quarter ended January 31, 2026. For the quarter, the Company recorded net (loss) earnings of $(385) million ($(1.68) per share) compared to $146 million ($0.62 per share) last year. For the quarter, the Company recorded adjusted net earnings of $164 million ($0.72 per share) compared to $146 million ($0.62 per share) last year, an increase of 12.3% (or 16.1% per share).
“We delivered a solid third quarter, with adjusted EPS growth of 16%, driven by strong Full-Service performance and healthy results across all of our formats,” said Pierre St-Laurent, President & CEO, Empire. “Our performance reflects that customers are realizing value across our banners, with meaningful opportunity ahead to build on this momentum and deliver long-term growth.”
Company Priorities
The Company is continuing to enhance data capabilities and deepen its understanding of its customers, allowing the Company to effectively capture emerging trends. The Company aims to grow total adjusted EPS over the long-term through net earnings growth and share repurchases. The Company intends to continue improving sales, gross margin (excluding fuel) and adjusted EBITDA margin by focusing on priorities such as:
- Continued Focus on Stores
- Enhanced Focus on Digital and Data
- Efficiency and Cost Control
For additional information, please see the “Overview of the Business – Company Priorities” section of the third quarter Fiscal 2026 MD&A.
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