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With approximately $31.6 billion in annualized sales and $16.4 billion in assets, Empire and its subsidiaries, franchisees and affiliates employ approximately 131,000 people.
Second Quarter Fiscal 2024 Summary:
- Earnings per share (“EPS”) and adjusted EPS of $0.72 and $0.71 respectively
- Prior year EPS and adjusted EPS of $0.73
- Same-store sales, excluding fuel, increased by 2.0%
- Gross margin, excluding fuel, increased by 5 basis points
Financial Highlights
Management 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: a continued focus on stores (investing in renovations, Discount expansion, and Own Brands program enhancement), an expanded focus on digital and data (through key strategic initiatives including Voilà, Scene+, personalization, space productivity and promotional optimization), and driving efficiency and cost effectiveness through initiatives related to sourcing of goods not for resale, supply chain productivity and the organizational structure.
| $ in millions, except per share amounts | 52 Weeks Ended May 6, 2023(1) | 53 Weeks Ended May 7, 2022(1) | 52 Weeks Ended May 1, 2021 |
|---|---|---|---|
| Sales | 30,478.1 | 30,162.4 | 28,268.3 |
| Gross profit(1) | 7,792.7 | 7,659.7 | 7,199.3 |
| Gross margin(1) | 25.6% | 25.4% | 25.5% |
| Operating income | 1,232.4 | 1,363.7 | 1,299.5 |
| Adjusted Operating income(1) | 1,291.5 | 1,363.7 | 1,299.5 |
| EBITDA | 2,263.0 | 2,330.8 | 2,143.8 |
| EBITDA margin | 7.4% | 7.7% | 7.6% |
| Adjusted EBITDA(1) | 2,322.1 | 2,330.8 | 2,143.8 |
| Adjusted EBITDA margin(1) | 7.6% | 7.7% | 7.6% |
| Net earnings(2) | 686.0 | 745.8 | 701.5 |
| per share (fully diluted)(2) | 2.64 | 2.80 | 2.60 |
| Adjusted Net earnings(1)(2) | 727.1 | 745.8 | 701.5 |
| per share (fully diluted)(1)(2) | 2.80 | 2.80 | 2.60 |
| 20.09 | 18.82 | 16.30 | |
| Dividends per share | 0.66 | 0.60 | 0.52 |
- See "Non-GAAP Financial Measures & Financial Metrics" section of the MD&A for a description of the types of costs included. Additionally, certain estimated financial impacts associated with the Cybersecurity Event are not reflected in the Adjusted Metrics above as they relate to sales declines which management considers are attributable to the Event, as well as operational effectiveness which temporarily declined during the Event. Management estimates that the impact of these non-adjusted items on operating income and EBITDA to be at least ($20.0) million and the net earnings impact to be at least ($15.0) million.
- Attributable to owners of the Company.
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Shareholders, Investors & Analysts
Dividend History
Sustainable Business Report