Empire Co. reports strong second quarter earnings for fiscal 2026
Empire Co. Ltd., operator of the Sobeys grocery chain, reported its fiscal 2026 Q2 results posting net earnings of $159 million ($0.69 per share) as compared to $173 million ($0.73 per share) last year.
The company also reported same-store sales were up 2.0 per cent, while food same-store sales rose 2.5 per cent.
"Our core business is performing well, with 2.5% same-store sales growth," said Pierre St-Laurent, president and CEO. "This growth was supported by all our formats—with Full Service achieving more than 2% same-store sales growth and Discount maintaining its momentum and market share gains in its channel."
Empire said it has accelerated investments in renovations, conversions and new stores along with store processes, communications, training, technology and tools.
READ: Pierre St-Laurent appointed president and CEO of Empire Company
“Investing in the store network will remain a key priority, demonstrated by a sustained emphasis on renovations and continued new store expansion,” the company wrote in a statement released with it financial results for the quarter. “The Own Brands program enhancement will remain a priority through increased distribution, product innovation and supporting Canadian suppliers.”
Empire intends to invest capital in its store network and is on track with its plan to renovate approximately 20% to 25% of the network, which started in fiscal 2024 and continues through fiscal 2026. It will also continue putting a focus on continued e-commerce expansion, personalization and loyalty through Scene+, improved space productivity and the improvement of promotional optimization.
“Space productivity will further enhance the customer experience by improving store layouts, optimizing category and product adjacencies and tailoring product assortment for each store,” Empire said. “The advanced analytics tools built for promotional optimization will continue to be refined through the partnership between the advanced analytics team and category merchants. Enhancing digital and data capabilities will allow the company to deliver personalized experiences to elevate its in-store and e-commerce experience for its customers.”
Empire also announced the appointment of Jo Mark Zurel to the company's board of directors. Zurel is chair of the board at Fortis Inc. and also serves on the boards of Major Drilling Group International Inc. and Highland Copper Company Inc.
With files from The Canadian Press
