Empire Company (TSE:EMP.A), the parent company of supermarket chain Sobeys, kicked off fiscal 2026 with its highest-ever quarterly earnings per share, reporting C$0.91 for the first quarter ended August 2, 2025, up from C$0.86 a year earlier.
Net earnings rose to C$212 million, slightly above last year’s C$208 million, reflecting solid performance across its grocery operations and full-service retail banners.
On an adjusted basis, net earnings were also C$212 million, or C$0.91 per share, just below the prior year’s adjusted C$219 million, or C$0.90 per share.
Quarterly sales totaled C$8.258 billion, a 1.5% increase from C$8.137 billion in the previous year. Food sales grew 2.6%, with same-store food sales up 1.9%.
Excluding fuel, the company’s gross margin improved by 63 basis points. Adjusted EBITDA came in at C$671 million, up from C$659 million, maintaining an 8.1% margin.
Capital expenditures for the quarter were C$138 million, directed toward store renovations, new store construction, and technology investments.
The company also declared a quarterly dividend of C$0.22 per share, up from C$0.20 per share last year.
“Fiscal 2026 is off to a solid start as we delivered another quarter of strong bottom line growth, the strongest quarterly earnings per share in our history, underscoring the fact our team’s execution continues to improve,” Empire CEO Michael Medline said in a statement.
Empire shares edged 0.2% lower to about C$51 post-earnings.