|Bid||30.42 x 0|
|Ask||30.54 x 0|
|Day's Range||30.34 - 31.87|
|52 Week Range||27.61 - 37.43|
|Beta (5Y Monthly)||-0.12|
|PE Ratio (TTM)||17.52|
|Forward Dividend & Yield||0.48 (1.52%)|
|1y Target Est||37.78|
There's been a notable change in appetite for Empire Company Limited (TSE:EMP.A) shares in the week since its...
STELLARTON, N.S. — One of Canada's largest grocers has experienced "a slight softening in sales" over the past few months, prompting the company to closer watch the Canadian economy for signs consumer spending patterns will change.Sobeys and Safeway parent company Empire Co. Ltd. saw sales begin a modest decline at the end of its second quarter and that trend has persisted into the beginning of the third quarter, CEO Michael Medline said Thursday during a conference call with analysts following the company's quarterly earnings release.Parts of the country also saw an onslaught of poor weather, he said. While cold weather benefits some retailers, like outerwear sellers, it does not have the same effect for grocers.The drop in sales momentum came as the company reported positive same-store sales, a key retail metric, for its third quarter and higher sales compared with the same period in the previous year.Shares of the company fell $3.25 or 9.3 per cent Thursday to end the day at $31.60.Over the quarter, the company saw some changes in the consumer backdrop, Medline said, especially in Alberta — but stressed he didn't want to over emphasize these shifts.Medline said the company is watching closely key indicators, like employment figures, and listening to the recent communications for Canada's major banks. Empire continues to watch for economic changes with interest, as well as listen to what the banks say about consumer sentiment."And, I think, like everyone else out there, we are watching it and concerned," said Medline. "There's nothing to panic about right now. But we're concerned."The company needs to watch consumer behaviour for a longer period of time to deduce what changes are taking place, such as whether they're shopping more frequently at discount labels, executives said on the call. It has not yet noticed consumers shifting from full-service to discount.Empire saw sales for its most recent quarter total $6.44 billion, up from $6.21 billion last year. Same-store sales excluding fuel increased 2.0 per cent.The company earned $154.6 million or 57 cents per diluted share for the 13 weeks ended Nov. 2, compared with a profit of $103.8 million or 38 cents per diluted share a year ago.On an adjusted basis, Empire earned 58 cents per diluted share in its latest quarter, up from an adjusted profit of 40 cents per share a year ago.Analysts on average had expected a profit of 57 cents per share and $6.47 billion in revenue according to financial markets data firm Refinitiv.This report by The Canadian Press was first published Dec. 12, 2019.Companies in this story: (TSX:EMP.A)The Canadian Press
Second Quarter Summary Same-store sales excluding fuel increased by 2.0% Earnings per share of $0.57 compared to $0.38 last year Adjusted earnings per share of $0.58 compared to $0.40 last year Crombie ...
STELLARTON, NS , Dec. 3, 2019 /CNW/ - Empire's family of brands is redefining how Canadians shop by rolling out weekly Sensory Friendly Shopping hours at more than 450 stores Canada -wide. The new, more inclusive shopping hours will be offered in Sobeys, Safeway, IGA, Thrifty Foods, Foodland and FreshCo stores.
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STELLARTON, NS , Nov. 28, 2019 /CNW/ - Empire Company Limited (TSX: EMP.A) will release its second quarter fiscal 2020 results on December 12, 2019 at 7:00 a.m. (Eastern Standard Time) . The release will ...
STELLARTON, NS, Nov. 28, 2019 /CNW/ - Today, Sobeys Inc. opened a brand-new store in Timberlea, Nova Scotia. The grand opening kicked off this morning, welcoming customers and the local community to a celebration that included the unveiling of one of Canada's first parking lots paved using post-consumer plastics that have been diverted from local landfills. The amount of recycled plastics used in the mixture is the equivalent of more than 6 million plastic checkout bags.
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Metro stock, Empire Company stock, and Cogeco Communications are three Dividend Aristocrats with small yields and substantial growth.
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is...
Empire Company Limited (TSX:EMP.A) and these two other stocks are great options for dividend investors in need of some recurring cash flow for their portfolios.
The first piece, the specially designed Ultimate Picnic Table, will be unveiled today on the Halifax Waterfront. This large table and bench system is much larger and is made of a unique design which seats 20 people, including accessible seating and is built from 60,000 recycled plastic bags. Sobeys is working with Dartmouth-based LakeCity Plastics to create the pieces and has partnered with Develop Nova Scotia and other Atlantic government partners to select accessible, family-focused public spaces on waterfronts across the region.
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MISSISSAUGA, ON, Oct. 23, 2019 /CNW/ - Sobeys is bringing the first intelligent shopping cart to Canadian grocery stores with the launch of the Sobeys Smart Cart, an innovative technology-enhanced shopping cart that provides customers with a highly-engaging, fun and fast way to shop. Canada's Family Grocery Store is piloting the Sobeys Smart Cart beginning today at the grocer's Glen Abbey Sobeys location in Oakville, Ontario. The Sobeys Smart Cart aims to enhance the in-store shopping experience with a focus on improving one of the greatest points of customer friction – in-store checkout lineups.
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