Empire Profit Climbs on Strong Food Sales

Net income rose from C$173 million during the same period last year, as total sales climbed to C$7.81 billion. While revenue narrowly missed the C$7.82 billion mark anticipated by Wall Street, adjusted earnings of C$0.94 a share topped the consensus forecast of C$0.87. Same-store sales growth cooled to 1.7%, though excluding the volatile fuel sector, growth reached 5%.

Management is moving to capitalize on this momentum through a renewed share-repurchase program covering up to 10.8 million shares. Looking toward fiscal 2027, the company earmarked C$850 million in capital expenditures. Half of this investment will focus on physical store growth and renovations, with plans to upgrade roughly 20% to 25% of its network over the next two years. The remainder of the budget targets IT infrastructure, logistics, and sustainability initiatives.