Core Business Growth
Excluding other income and share of earnings from equity investments, the core business improved by 12.5% over last year. Same-store sales grew by 2.5%, and food sales increased by 3.4%.
Gross Margin Improvement
Gross margin improved by 14 basis points, driven by operational efficiencies and disciplined execution in stores. Excluding the impact of higher wholesale distribution sales, the improvement would have been more than 20 basis points.
Strategic Investments
Empire is focusing on capitalizing on past investments in stores, technology, and strategic projects, aiming to realize their full potential.
Expansion and Growth
Empire is planning to expand its store footprint, focusing on new store openings and leveraging its discount and full-service formats to capture market share.