The following is a summary of the Empire Company Limited (EMLAF) Q3 2024 Earnings Call Transcript:
Financial Performance:
Empire Company Limited reported Q3 sales, excluding fuel, grew by 1.3%.
The company delivered an adjusted EPS of $0.62 for Q3.
Voilà, an Empire venture, achieved a revenue growth of more than 15% compared to the previous quarter.
The company's same-store sales growth showcased a 1.9% increase.
Adjustments to overhead costs are being made to match the current sales environment.
The company's debt-to-adjusted EBITDA ratio improved from 3.1x last year to 3.0x.
Business Progress:
Empire Company has completed a back-stage initiative, focused on optimizing business structure and reducing costs.
The company has entered into an agreement to purchase a strategically located land in Montreal.
Efforts towards redefining the Scene+ loyalty program are underway. Scene+ currently has over 15 million members.
Empire is set to open its first central kitchen in Calgary in the first half of Fiscal 2025.
Empire recently acquired the remaining 12% of shares from Farm Boy and expanded the operation from 26 to 48 locations.
Empire aims to grow adjusted earnings per share by 8% to 11%, focusing on improving efficiency and cost control.
The company is also making strides in online retail, notably with Voilà displaying strong customer retention rates and growth rates.
More details: EMPIRE CO IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.