Empire Company Limited (TSX: EMP.A) is a Canadian company headquartered in Stellarton, Nova Scotia. Empire’s key businesses are food retailing, through wholly owned subsidiary Sobeys Inc., and related real estate.
With approximately $30.5 billion in annual sales and $16.5 billion in assets, we employ approximately 131,000 people.
Sobeys Inc. has more than 115 years of experience serving customers in the food-retail business. We are one of only two national Canadian grocers operating across all 10 provinces, with approximately 1,600 stores.
Sobeys Inc. oversees familiar banner names of Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Farm Boy, Longo’s and Lawtons Drugs, as well as more than 350 retail fuel locations. We also operate with five core retail food formats and related businesses to ensure we are able to satisfy the unique shopping needs of our customers: full service, fresh service, community service, discount service and convenience service.
Across our banners and businesses from coast-to-coast, Sobeys Inc. fosters a family culture of care, trust, respect and growth for its people, customers and their communities. Together, our store teammates, franchisees and diverse retail networks are dedicated to serving customer needs by providing exceptional shopping and food experiences.
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Teammates:
131,000
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Total stores:
1,600
(excluding fuel stations and related convenience stores)
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Total square footage:
41.6 million
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Communities served:
928
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1Employees of Sobeys Inc., our franchisees and our affiliates. All data is as of May 7, 2023
Financial Highlights
Sales
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4.7%
5-year CAGR
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5.8%
10-year CAGR(3)
Adjusted EBITDA(1)
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18.0%
5-year CAGR
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9.4%
10-year CAGR
Adjusted Net Earnings(1)(2)
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16.1%
5-year CAGR
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6.4%
10-year CAGR
Dividends
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9.5%
5-year CAGR
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7.5%
10-year CAGR
(1) See “Non-GAAP Financial Measures & Financial Metrics” section of this MD&A for a description of the types of costs included. Additionally, certain estimated financial impacts associated with the Cybersecurity Event are not reflected in the Adjusted Metrics above as they relate to sales declines which management considers are attributable to the Event, as well as operational effectiveness which temporarily declined during the Event. Management estimates that the impact of these non-adjusted items on operating income and EBITDA to be at least ($20.0) million and the net earnings impact to be at least ($15.0) million.
(2) Attributable to owners of the Company.
(3) Compound annual growth rate.
