Empire shares rose 4.7% to C$54.34 after the Canadian grocer reported strong Q4 same-store sales growth of 3.8% across both full-service and discount banners. Net income increased to C$173 million, or C$0.74 a share, up from C$148.9 million, or C$0.61 a share, a year ago, with adjusted earnings per share of C$0.74 exceeding analyst expectations of C$0.71.
Empire's shares advanced 4.7% to C$54.34, reflecting strong investor sentiment following the release of its final quarter financial results. The Canadian grocer demonstrated robust underlying performance with a 3.8% increase in same-store sales within its food segment, a growth trajectory observed across both its full-service Sobeys and discount FreshCo banners. This contributed to a 3% year-over-year rise in total sales to C$7.64 billion, narrowly missing the consensus forecast of C$7.65 billion. Significantly, net income surged to C$173 million, or C$0.74 per share, up from C$148.9 million, or C$0.61 per share, in the corresponding quarter of the previous year. Adjusted earnings per share of C$0.74 surpassed analyst expectations of C$0.71, underscoring effective cost management and enhanced profitability despite the marginal top-line miss. The strong earnings beat and consistent sales growth across diverse store formats signal resilient consumer demand and operational strength.
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strongly positive
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0.75
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