Latest news with #FreshCo
Business Insider
14 hours ago
- Business
- Business Insider
Empire Stock (TSE:EMP.A) Jumps after Topping EPS Estimates
Shares of grocery retailer Empire (TSE:EMP.A) jumped today after saying that its customers are actually spending more despite reports suggesting that Canadians are being cautious. Indeed, CEO Michael Medline stated that shoppers are buying more fresh products and making fewer trips to different stores. He also pointed out that fewer purchases are tied to promotions, meaning that there is more confidence in spending. As a result, Empire's Q4 earnings report came in strong, with EPS rising to C$0.74 from C$0.61 last year and beating estimates of C$0.71. Confident Investing Starts Here: Furthermore, total sales for the quarter reached $7.64 billion, up from $7.41 billion a year earlier. This was driven by same-store sales growth of 3.8% in food, which offset a 7.8% drop in fuel sales due to the removal of the carbon tax. Overall, total same-store sales increased by 3%, which helped the company raise its dividend from $0.20 to $0.22 per share. Interestingly, Empire said that price inflation in its stores has stayed stable, as it works with more local suppliers while rejecting unnecessary cost increases from vendors. 2026 Outlook Looking ahead, Empire plans to open 26 new stores in 2026 under its Farm Boy, FreshCo, and Voilà banners in order to grow its market share. In addition, Medline stated that there's a lasting shift in consumer behavior, with many Canadians preferring local retailers and sticking to their new habits. Separately, RBC analysts, led by five-star analyst Irene Nattel, noted that although Empire still trails competitors in the discount grocery space, converting more stores to FreshCo could help fix that. With inflation still high, more shoppers are turning to discount stores, which makes Empire's expansion plans even more important. Is Empire Stock a Good Buy? Turning to Wall Street, analysts have a Hold consensus rating on Empire stock based on four Holds assigned in the past three months, as indicated by the graphic below. Furthermore, the average Empire price target of C$52.50 per share implies 3.9% downside risk. However, it's worth noting that estimates will likely change following today's earnings report.
Globe and Mail
a day ago
- Business
- Globe and Mail
Sobeys parent Empire beats profit growth estimates, raises dividend
Grocery retailer Empire Co. Ltd. EMP-A-T beat analysts' estimates for profit growth in the fourth quarter, reporting that its store chains such as FreshCo and Sobeys took market share from competitors. The Stellarton, N.S.-based company reported on Thursday that sales grew in both the company's FreshCo discount stores, as well as its full-service grocery stores such as Sobeys, Safeway and IGA. Same-store sales – an important industry metric that tracks sales growth not tied to new store openings – were up 3 per cent in the quarter ended May 3, compared to the same period last year. Empire reported net earnings grew to $173-million or 74 cents per share in the fourth quarter, compared to $149-million or 61 cents per share the prior year. That exceeded analysts' expectations of $164.5-million or 71 cents per share, according to the consensus estimate from S&P Capital IQ The company also announced a 10-per-cent increase in its quarterly dividend paid to shareholders. Fourth-quarter sales grew to $7.6-billion, up 3 per cent compared to the prior year, driven by strong performance at grocery stores, partly offset by lower sales at the company's gas stations as fuel prices fell. The expansion of the Farm Boy and FreshCo store chains contributed to profit growth, as did initiatives aimed at reducing 'shrink,' an industry term for products that are lost before they can be sold – such as through theft or spoilage. This time last year, Empire made the decision to pull back on the pace of expansion of its Voilà e-commerce service, saying the market for online groceries in Canada was smaller than expected. After ending its exclusive partnership with technology provider Ocado Group PLC earlier than planned, Empire launched partnerships with third-party delivery companies Instacart and Uber Eats, which have contributed to growth. Online sales rose by 80.2 per cent in the quarter. The company continues to cut costs in its online service as it seeks to reach profitability. Construction of a fourth e-commerce distribution centre, underway in Vancouver, remains on hold, and will resume 'once e-commerce penetration rates in Canada increase,' according to a press release issued on Thursday.
Hamilton Spectator
27-05-2025
- Hamilton Spectator
Ask an officer: LaSalle Police host weekly booth to engage with the community
The LaSalle Police Service recently launched a community information booth in the front lobby of the Vollmer Centre Recreation Complex. Every Monday from 9 until 10:30 a.m., residents and community members can ask a rotating duty officer questions on any topics pertaining to police matters or simply engage with them. It is one of the initiatives of Officer Tim McInnis,according to Constable Alison Hunter, who was handing out literature at the booth in front entrance of the Malden Road FreshCo on Friday, May 16 during the Victoria Day weekend. Police week is recognized nationally and runs from May 11-17. 'It's a part of police week, we're just letting you know if you have any questions,' said Constable Alaina Atkins, also the community resources officer, and was partnered with Hunter at the information booth. 'We also have information and contests for kids.' Both Atkins and Hunter handed out colouring sheets and crayons along with decals, stick-on tattoos and offered Timbits to many children throughout the day - as they walked in and out of the FreshCo with their parents. They also promoted their 'Chief for a Day' contest which was open to students from the fifth to seventh grades and attending school in LaSalle. The topic: 'If you were chief for the day, what would you do to make our community a better place?' A 500-word essay or a two to three-minute video could have been submitted by the end of May. The chief will pick the winner. 'We want the kids to be creative and identify what's important to them,' said LaSalle Chief of Police Michael Pearce, when asked about what he looked for in those essays and videos. The winner will also get to ride with the chief in the LaSalle Strawberry Festival parade in June and meet with Mayor Crystal Meloche. There was also a Name Our Lego Officer contest for the official LaSalle Police Lego cop mascot, which is bigger than the size of a baby but smaller than a toddler. The winner received a prize pack full of swag. The unnamed Lego cop wearing a LaSalle Police vest, ballcap and should-patch badge made his debut at the LaSalle Police Service Polar Plunge for Special Olympics and will no doubt have been present at the LaSalle Police Bike Rodeo at the Events Centre and the Car Seat Clinic at the LaSalle Fire Services Station on Normandy Street. 'We are in the early stages of planning another neighbourhood community safety walk for the summer,' said Atkins. 'We aim to host events that our community is interested in and will benefit from.' And in June, the community booth at the Vollmer will be moved to Tuesdays and on Wednesdays. 'The town told us initially that Monday was the busiest day during the week, but we had feedback from the public that they would like to see the booth on varying days,' said Atkins. Deputy Police Chief Jason Woods added, 'In the fall depending on how it goes, we might have it at the Events Centre.' Whether the community booth is at the Vollmer, the Events Centre or at events like police week, you can be sure there will be officers like Atkins and Hunter passing on literature such as a sheet of non-emergency phone numbers for local contacts. 'A great thing to put up on your fridge or cupboard door,' said Hunter. So are the sticky notes with the LaSalle Police Service badge-logo. Pads of them were given away as were ballpoint pens with the LaSalle Police Service 519 969-5210 non-emergency phone number engraved on them. 'We can only answer any general questions, but they can't report it,' said Hunter, referring to the inquiries from visitors at the community information booths. 'They will have to call the police.' The officers at the community booths like the dispatcher can only direct them to someone who can best answer your questions. Atkins concurred another prevalent issue continues to be fraud and damage to property. Another trending crime is impaired driving and opening unlocked car doors and stealing change during warmer months. And the Little Black Book of Scams, a CAMVideo for property surveillance registry pamphlet, a substance and overdose measurement chart-card along with a Youth Wellness Hub of Windsor Essex flier as well as the Lock It or Lose It brochure were all made available. Bicycle safety printouts for children were available as were Mothers Against Drunk Driving key chains and red ribbons for adults. 'If we can educate the public, they are less likely to become a victim of a crime,' said Atkins. 'The red flags to look for to make your home and yourself safe.' A sidebar for Important Local Emergency Phone Numbers · LaSalle Police Service 519-969-5210 · LaSalle Fire Service Dispatch 519-258-4444 · Windsor Essex Central Ambulance 519-258-2155 · Enbridge Utilities 519-255-2727, after hours 519-255-7818 · Enbridge Gas 1-866-763-5427 EMERGENCIES ONLY CALL 911
CBC
06-03-2025
- Business
- CBC
U.S.-made items with maple leaf symbols perplex pro-Canadian shopper
Want to 'Buy Canadian' at the supermarket? It might be more complicated than you think - as Windsor resident Jim Kreski found out on a recent trip to a local FreshCo store. Dalson Chen reports.
CBC
06-03-2025
- Business
- CBC
Buying Canadian at the supermarket? It might be more complicated than you think
Donald Trump's trade war against Canada has been inspiring patriotic stances among customers at grocery stores — but choosing to buy only Canadian goods isn't as easy as looking for a maple leaf. Jim Kreski of Windsor, Ont. found that out during a recent visit to a FreshCo location. "I happened to pick up a can of soup, and I saw that even though they had red maple leaves on everything, the product was actually made in the U.S.A.," Kreski told CBC Windsor. "That was stated right on the can." FreshCo is among the supermarket chains that has undertaken a policy of highlighting Canadian goods — adding maple leaf logos to certain shelf labels. But Kreski noticed that the pro-Canadian symbols were also on shelves stocked with items that were actually American products — such as Campbell's soup and Betty Crocker cake mixes. Kreski said that after he discovered the apparent mislabelling in multiple aisles, he asked a staff member about it. "She said that if it was a Canadian company that had purchased the goods... they put the maple leaves." The maple leaf symbol is also bestowed upon products "prepared in Canada" from imported goods. "I understood what she was saying, but I think it's deceptive," Kreski lamented. "To me, it's not right." Meanwhile, FreshCo has been incorporating "Buy Canadian" rhetoric into its advertising. A promotional email reminds the public that FreshCo — a subsidiary of Sobeys — is "a proudly Canadian company." Other promotional copy encourages customers to "Spot and shop Canadian products in-store and in our flyer — Look for the maple leaf on shelf." When contacted about Kreski's concerns, a spokesperson for Sobeys said that their parent conglomerate — Empire Company Limited — "has responded quickly to Canadians' desire to buy Canadian." According to the spokesperson, the corporation is "committed to clear and accurate labelling," and products are continually reviewed to ensure they meet CFIA (Canadian Food Inspection Agency) definitions for Canadian products. "While labelling is a manual process and occasional discrepancies may occur, we have steps in place to identify and correct them promptly," Sobeys stated. Mike von Massow, a professor with the Ontario Agricultural College at the University of Guelph and an expert on food economics, feels it shouldn't be a surprise that choosing Canadian goods can be a complicated matter. "It's sometimes difficult to define what Canadian is," von Massow explained. "Each of us has to sort of create our own line as to what is acceptable." For example, oranges can't be grown in Canada — but there are Canadian companies that make products out of imported orange juice concentrate. "Is that a Canadian product?" von Massow asked. On the other hand, Canada produces plenty of pigs — but the processing of those pigs into consumable pork products is typically done in the U.S. "We have a lack of processing capacity in eastern Canada," von Massow said. "So there are these nuances... in the middle space of absolutes." Making the issue even more murky is the fact that there are U.S. retailers operating in Canada — such as Walmart and Costco — that are selling Canadian-made products. von Massow is also aware of what he describes as "Canada-washing" — food retailers using patriotism as a marketing strategy while they're being less-than-forthcoming about the origins of items for sale. It can all make "buying Canadian" as tricky as politics. "Ask questions at the grocery store," von Massow advised. "Check the labels. Look at the regulatory websites to see what the different wording means, and inform yourself. "It's more work. But if it's important to you, you can figure it out." von Massow has been trying to practice what he preaches: He's stopped buying Cheerios (his favourite cereal) because he learned that General Mills, a U.S. company, only manufactures them in the U.S. Carol Kreski, Jim's wife, said she's found online help with Canada-conscious buying decisions. She joined a Facebook group called "Made in Canada — Canadian Products." "When I shared it at the time, there were 74,000 members on this page. I forwarded it to all my friends and family," Carol recalled. "As of today, it's at 1.2 million people, all following this page of alternatives to U.S. products." Despite Jim Kreski's distrust of FreshCo's shelf labels, he said he's not giving up. He'll continue to try to make Canadian choices when he does his shopping, and avoid U.S. imports when possible. "One person may not make a difference on buying Canadian, but if 50 per cent of us do it, it could make a huge difference," he reasoned.
