The following is a summary of the Empire Company Limited (EMLAF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Empire Company Limited reported Q3 sales, excluding fuel, grew by 1.3%.

• The company delivered an adjusted EPS of $0.62 for Q3.

• Voilà, an Empire venture, achieved a revenue growth of more than 15% compared to the previous quarter.

• The company's same-store sales growth showcased a 1.9% increase.

• Adjustments to overhead costs are being made to match the current sales environment.

• The company's debt-to-adjusted EBITDA ratio improved from 3.1x last year to 3.0x.

Business Progress:

• Empire Company has completed a back-stage initiative, focused on optimizing business structure and reducing costs.

• The company has entered into an agreement to purchase a strategically located land in Montreal.

• Efforts towards redefining the Scene+ loyalty program are underway. Scene+ currently has over 15 million members.

• Empire is set to open its first central kitchen in Calgary in the first half of Fiscal 2025.

• Empire recently acquired the remaining 12% of shares from Farm Boy and expanded the operation from 26 to 48 locations.

• Empire aims to grow adjusted earnings per share by 8% to 11%, focusing on improving efficiency and cost control.

• The company is also making strides in online retail, notably with Voilà displaying strong customer retention rates and growth rates.

More details: EMPIRE CO IR

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