TSX:EMP.AConsumer Retailing
Empire E Commerce Reset Weighs On Earnings But Valuation Signals Upside
Empire Company Limited booked a CA$746 million impairment related to its e-commerce operations, which resulted in a net loss for the quarter.
The company is closing its Calgary Customer Fulfilment Centre as part of an overhaul of its online grocery model.
Empire is expanding third party delivery partnerships, including a new arrangement with DoorDash, while highlighting adjusted earnings growth.
For investors watching TSX:EMP.A, this update marks a clear reset in how Empire approaches...