Empire Company Eyes Private Brand Growth
In its latest financial reporting, Empire Company Limited based in Stellarton, Nova Scotia, Canada, revealed that it is making expansion of the company’s own brands program a priority.
According to the company, the own-brand expansion comes as Empire has accelerated investments in renovations, conversions and new stores along with store processes, communications, training, technology and tools. The own brand program enhancement will remain a vital initiative supported by increased distribution, shelf placement and product innovation, the company said.
In the third quarter, Empire posted earnings per share and adjusted earnings per share of $0.54 and $0.62 respectively versus prior-year earnings per share (EPS) of $0.49 and adjusted EPS of $0.64. Empire same-store sales, excluding fuel, increased by 1.9%. Sales were $7.49 billion compared with $7.49 billion in the year prior. All figures are in Canadian dollars.
Empire's key businesses are in food retailing, through wholly-owned subsidiary Sobeys Inc., and include retail brands such as Sobeys, Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, and Lawtons Drugs.
