Empire Stock (TSE:EMP.A) Jumps after Topping EPS Estimates
Confident Investing Starts Here:
Furthermore, total sales for the quarter reached $7.64 billion, up from $7.41 billion a year earlier. This was driven by same-store sales growth of 3.8% in food, which offset a 7.8% drop in fuel sales due to the removal of the carbon tax. Overall, total same-store sales increased by 3%, which helped the company raise its dividend from $0.20 to $0.22 per share. Interestingly, Empire said that price inflation in its stores has stayed stable, as it works with more local suppliers while rejecting unnecessary cost increases from vendors.
2026 Outlook
Looking ahead, Empire plans to open 26 new stores in 2026 under its Farm Boy, FreshCo, and Voilà banners in order to grow its market share. In addition, Medline stated that there's a lasting shift in consumer behavior, with many Canadians preferring local retailers and sticking to their new habits.
Separately, RBC analysts, led by five-star analyst Irene Nattel, noted that although Empire still trails competitors in the discount grocery space, converting more stores to FreshCo could help fix that. With inflation still high, more shoppers are turning to discount stores, which makes Empire's expansion plans even more important.
Is Empire Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on Empire stock based on four Holds assigned in the past three months, as indicated by the graphic below. Furthermore, the average Empire price target of C$52.50 per share implies 3.9% downside risk. However, it's worth noting that estimates will likely change following today's earnings report.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
8 minutes ago
- Business Wire
Two Years on Canadian Roads Show VinFast's Commitment to EV Market
MARKHAM, Ontario--(BUSINESS WIRE)-- As Canada's electric vehicle market matures, one global brand has spent the past two years quietly shaping expectations with affordable models, long-range options, and one of the industry's most generous warranties. Canadians are buying more zero-emission vehicles every year. In 2024, electric vehicles made up 15.4 percent of new registrations 1. That's up from 10.7 percent the year before. Growth like this comes as drivers weigh incentives, new charging stations, and the routines of daily life. By early 2025, just under 10 percent of new vehicles sold in the first quarter were electric 2. For some, the slower pace might look like a stall, but it points to a market that is starting to settle in. Drivers now look for options that fit their routines, not just the newest technology. Charging stations keep appearing in more cities and towns. Federal policy still aims for one in five new cars sold by 2026 to run on batteries or plug-in systems. The bar climbs higher every five years until it reaches every car in 2035. All this means the EV market in Canada is settling into a new phase. Instead of a race, it feels more like steady progress. The brands that stick around for the long term now have a chance to show what they can offer. Two Years on Canadian Roads From its home country of Vietnam, VinFast entered Canada in mid-2023, rolling out its first VF 8 deliveries soon after. Rather than a one-off experiment, the company chose a patient approach—showing up at major auto shows, inviting consumers for test drives, and learning how Canadians drive, charge, and live with their cars. In owners' groups on social media, word travels quickly. People share real accounts about what it's like to drive a VinFast on Canadian roads. 'Our VF 8 Plus has exceeded expectations,' one owner wrote after a cross-border round trip. Word-of-mouth like this helps more people picture themselves making the switch to electric. For much of the past two years in Canada, VinFast's pricing has opened the EV market to drivers who once felt priced out. For example, the mid-sized VF 8 is priced between C$53,600 and $59,200, noticeably below the national average for an EV. For context, the average electric vehicle in Canada costs around $73,000 3, a figure that has likely kept many buyers on the sidelines. The VF 8 claims up to 412 kilometers per charge, while the three-row full-sized VF 9 offers as much as 531 kilometers of range. Both models provide the range needed for daily commutes and longer drives across Canadian provinces. Owners often highlight the vehicles' comfort and quiet cabins, as well as the consistent performance at highway speeds. Design and Peace of Mind Style and ease-of-use matter, too. VinFast's cars show off Italian-inspired lines, modern interiors, and the kind of infotainment that Canadians now expect from a new car. The 10-year, 200,000-kilometer warranty is one of the most generous around, giving buyers the peace of mind they need to adapt to new technology and new habits. The company's mobile app connects with almost every public charging station in North America. Owners can find and use more than 100,000 Level 2 and DC fast chargers, all from one screen. No other app from an automaker or third party offers that level of access. VinFast's steady two-year investment shows that building trust in a new market takes more than advertising. It means staying visible, listening to drivers, and adjusting as the EV world grows up. As Canada's rules and roads continue to change, brands like VinFast will help shape what mobility looks like for years to come.
Politico
2 hours ago
- Politico
Diplo blues
Welcome to Canada Playbook. Let's get into it. In today's edition: → Diplomats cut to the chase on incoming budget cuts. → MÉLANIE JOLY plays 'Let's Make a Deal.' → PIERRE POILIEVRE previews fall plans. DRIVING THE DAY MAKING THE CUTS — They've been told to cut — and keep cutting. The edict came in July from Finance Minister FRANÇOIS-PHILIPPE CHAMPAGNE. Federal departments were told to cut 7.5 percent from their budgets this year and find 15 percent worth of savings by 2028-29. That has Canadian diplomats wondering how that squares with Prime Minister MARK CARNEY's ambitions to position Canada as a global player in light of the disruptions caused by U.S. President DONALD TRUMP. — Remember: 'If we want the world of tomorrow to be shaped by our values, Canada must be ready,' the PM said at the NATO summit in The Netherlands. 'If we want a more secure world, we need a stronger Canada that works with our allies.' That implies diplomats — real Canadians doing that work on the ground in foreign countries. — Dear PM, more please: PAMELA ISFELD, president of the Professional Association of Foreign Service Officers, tells Playbook that there has been no direction from 'the center.' She says that before deputy ministers make their hit lists, Carney should share how he sees diplomats delivering on his vision. And she points out that it's 'bass-ackwards' to make cuts ahead of a broader national security review. — More with less: 'We're already doing a lot with a little,' she said. 'We already have embassies where there are only a couple of Canada-based staff.' — Case in point: Isfeld's last posting was Poland, starting 2012. Everything was going well until Russia invaded and annexed Ukraine's Crimean Peninsula two years later. It shook up the world while exposing staffing shortages at the Canadian embassy in Warsaw. 'I was the only Canada-based person in the political section. I had fantastic, locally engaged staff,' she recalled. '[But] they couldn't have the same security clearances that I could have.' — Dealing with GAC: Isfeld says management at Global Affairs Canada have been 'open and forthcoming' with her union about finding savings. The department has formed working groups. Both sides are doing surveys, soliciting suggestions. — GAC's response: Spokesperson CHARLOTTE MACLEOD said in an email that GAC is working on 'proposals' to meet its savings targets, but 'at this stage, no decisions have been made.' She declined an interview request on behalf of the department. — Keep the furniture: While it might be tempting to find cost savings by cutting offices and buildings, their importance can't be understated in certain missions, said Isfeld. — Being there: On a posting to Kenya in the 1990s, Isfeld saw how the boardroom of the High Commission in Nairobi allowed Canada to regularly convene people to talk about fair elections and development issues. 'We were not putting a lot of money into Kenya at the time, but we had a disproportionate influence because we were there,' she said. 'We showed up. We talked to people. We knew everybody.' THE ROOMS THAT MATTER — PM CARNEY has no public events on his itinerary. — Foreign Affairs Minister ANITA ANAND will meet with U.S. Secretary of State MARCO RUBIO in Washington at 9:45 a.m. — Saskatchewan Premier SCOTT MOE will meet federal Agriculture Minister HEATH MACDONALD to discuss Chinese tariffs on canola. The Canadian Press sets the scene. — Housing Minister GREGOR ROBERTSON joins Toronto Mayor OLIVIA CHOW for a 10:15 a.m. announcement 'regarding community infrastructure.' Want more POLITICO? Download our mobile app to save stories, get notifications on U.S.-Canada relations, and more. In iOS or Android . Trade war WAR BIZ — Canada has a new international salesperson-in-chief. And as she tries to lure more foreign investment to Canada, Industry Minister MÉLANIE JOLY is focused on doing her part to build a north of 49th military industrial complex. — The plan: Joly said Wednesday in Finland that she is working on a 'defense industrial strategy' with Defense Minister DAVID MCGUINTY and STEPHEN FUHR, the secretary of state for defense procurement. Beefing up Canada's defense sector will help meet NATO's spending target — 5 percent of GDP by 2035 — 1.5 percent of which can come from infrastructure, research, AI and other defense-industrial projects. — The rollout: Joly said the Business Development Bank of Canada will support companies that want to invest in defense. National Research Council Canada will focus on dual-use, civilian and military research. She also said the government will work with the Canadian Space Agency 'to make sure that its mandate is broader than only space exploration, but really working much more on the defense side as well.' Details will come in the federal budget, she said. — Next up: Joly said she will visit Lockheed Martin's F-35 headquarters in the United States in the coming weeks. Earlier this week, she visited Sweden's Saab — which produces a possible competitor to the American-made jet. McGuinty's internal review will determine which plane Canada should buy to fill out its future fighter jet fleet. — Tick tock: McGuinty told reporters on Aug. 11 that the decision 'is in the hands' of the Canadian Armed Forces and the Department of National Defense. 'They are, as operational experts, assessing and they'll have more to say,' he said. For your radar FALL FIREPOWER — PIERRE POILIEVRE is so back. Fresh from his by-election win, the Conservative leader previewed his fall agenda on Wednesday at a press conference in Surrey, British Columbia. 'We're not just going to oppose out-of-control Liberal crime, inflation, immigration, housing costs,' he said. 'We are going to propose real solutions.' Asked by a local radio reporter when Canadians could expect another election, Poilievre took aim at the PM. 'While he gets gushing media coverage for meetings and photo ops and grand announcements that have that amount to nothing, MARK CARNEY is one walking, talking, broken promise,' he said. 'Our job in the fall session will be … to hold him accountable.' Poilievre went further, accusing the PM of being sidelined on the world stage. 'He's not even invited to big international meetings, and Beijing's dictatorship now smells weaknesses,' he said. — In related reading: DAVID MOSCROP writes in Time: 'Poilievre said in July 'every election comes with lessons.' But his tone never shifted. He remained the same doctrinaire culture warrior.' And columnist ROBYN URBACK writes in the Globe: 'Canadians need effective opposition, and Mr. Poilievre is perhaps the most effective there is. He shouldn't abandon his strength for something pleasant yet inauthentic. He just needs to be a lot more serious about it.' ALSO FOR YOUR RADAR SANCTIONING THE ICC — The U.S. State Department sanctioned senior jurists at the International Criminal Court on Wednesday, arguing the judges are complicit in the persecution of Israel by the international war crimes tribunal. POLITICO's 'National Security Daily' newsletter reports: Secretary of State MARCO RUBIO said the sanctions against judges KIMBERLY PROST of Canada, NICOLAS GUILLOU of France, NAZHAT SHAMEEM KHAN of Fiji and MAME MANDIAYE NIANG of Senegal are necessary because the ICC 'is a national security threat that has been an instrument for lawfare against the United States and our close ally Israel.' The personal sanctions will limit the jurists' abilities to do business in the U.S. and freeze any assets they may have with U.S. financial institutions. The ICC said it 'deplores' the U.S. sanctions on its judges and prosecutors. 'Attacks on them by Russia, Israel and the U.S. are intended to weaken and intimidate the international legal system. They must not succeed,' said BOB RAE, Canada's ambassador to the United Nations. — In related reading: The Globe's NATHAN VANDERKLIPPE reports that the move complicates Canadian negotiations with the Trump administration. JOHN BOSCARIOL, an international trade lawyer with McCarthy Tétrault, told the Globe that the PM 'is going to have to be pretty careful here in how he responds.' MORNING MUST-CLICKS — Our colleagues in Washington and Europe report that the Pentagon's top policy official told a small group of allies this week that the U.S. plans to play a minimal role in any Ukraine security guarantees, 'one of the clearest signs yet that Europe will need to shoulder the burden of keeping lasting peace in Kyiv.' — JONATHAN MARTIN, POLITICO's senior political columnist, writes: 'If summer turns to fall and there's not even a bilateral meeting yet scheduled between Putin and Zelenskyy, it will become clear Trump got played.' — 'There has been neither a reset nor a reboot,' SUSHANT SINGH writes in The Walrus of relations between Canada and India. — The NYT's EMILIANO RODRÍGUEZ MEGA and IAN AUSTEN report on the state of play between Canada and Mexico. — PAUL WELLS talked to WAYNE EYRE, retired chief of Canada's defence staff, about NATO targets, political extremism, and Canada-U.S. relations. Listen here. — 'Ask any economist what the right tool is to try to deal with the fact that there are too many carbon emissions, they are going to tell you that it is the carbon tax,' NATASHA SARIN, president and co-founder of the Yale Budget Lab, says on 'The Ezra Klein Show,' an episode focused on the U.S. economy. — From POLITICO's ADAM WREN: Inside the MAGA-parodying strategy that has rocketed California Gov. GAVIN NEWSOM to algorithmic dominance. LOBBY WATCH Our daily check-in on federal lobbyist registrations and notable meetings around town: — Prospectus Associates' MARTIN-PIERRE PELLETIER posted meetings on behalf of Spirits Canada with VARUN SRIVATSAN, deputy director of policy for Finance Minister François-Philippe Champagne; and MATHEW HALL, senior policy adviser in the Prime Minister's Office. On the agenda: tariff impacts on Canadian spirits. — Rubicon's BRAEDAN DE BAKKER is now lobbying for Kinross Gold Corp. Top priority: 'raise awareness of the Great Bear Project in Red Lake, Ontario.' PROZONE For POLITICO Pro subscribers, here's our latest policy news: — Canadian carbon removal plant begins storing CO2 underground. — Electric school buses hit pothole after major supplier goes bankrupt. — From Phillips 66 to IKEA, businesses write in support of cap-and-trade. — Trump's global health cuts have upended the CDC's malaria work. — Heat warnings wither under Trump. Pro Analysis from ARI HAWKINS and PAROMA SONI: What you need to know about Trump's emergency tariff levels. And our latest Pro policy newsletter: The Apprentice: Joly Edition. PLAYBOOKERS Birthdays: HBD to 'CTV National News' chief anchor OMAR SACHEDINA and Hydro-Québec vice president GRAHAM FOX. Noted: B'nai Brith Canada wrote a letter to the PM firmly opposing the government's intent to recognize a Palestinian state. The letter was co-signed by 60 prominent Canadians, including former Conservative leader RONA AMBROSE, entrepreneur DAVID CYNAMON, TSN anchor JENNIFER HEDGER, longtime Liberal operative WARREN KINSELLA, broadcaster BEN MULRONEY and investor JOHN RUFFOLO. TRIVIA Wednesday's answer: JEAN-CLAUDE PARROT was sentenced to three months in jail and 18 months of probation for defying back-to-work legislation when he was president of the Canadian Union of Postal Workers. Props to JIM MUNSON, MAIA EASTMAN, IAN FARIS, ELIZABETH BURN, ROBERT MCDOUGALL, MALCOLM MCKAY, MARCELLA MUNRO, RALPH LEVENSTEIN, PETER STUDER, DOUG RICE, JAY CHALKE, SCOTT MCCORD, PATRICK HART, ASHLEY THOMSON, RAY PENNINGS, RAY DEL BIANCO, TOM BEST, DAVE PENNER, JOANNA PLATER, GORDON RANDALL, AHDITHYA VISWESWARAN, CHRIS RANDS, BOB GORDON, JORDAN LEICHNITZ, MARCEL MARCOTTE, JOHN MERRIMAN, JOHN PEPPER, J. ROLLAND VAIVE, RODDY MCFALL, DON SCOTT, JONATHAN MOSER, BARBARA GRANTHAM, DARRYL DAMUDE and BOB PLAMONDON. Today's question: On this date in history, 'the most colossal theft of modern times' took place. Tell us what, where — and why. Send your answer to canadaplaybook@ Writing tomorrow's Playbook: MICKEY DJURIC. Canada Playbook would not happen without: Canada Editor Sue Allan, editor Willa Plank and POLITICO's Grace Maalouf.
Yahoo
21 hours ago
- Yahoo
About 80% of Canadians Say Trump Won't Honor a Trade Deal, Poll Finds
(Bloomberg) -- Mark Carney's government has been trying to reach a new trade accord with the US, but most Canadians are skeptical that President Donald Trump will keep his word on any deal. Four in five Canadians say they think it's unlikely that Trump would honor a future trade agreement with their country, according to a poll by Nanos Research Group conducted for Bloomberg News. Why New York City Has a Fleet of New EVs From a Dead Carmaker Chicago Schools Seeks $1 Billion of Short-Term Debt as Cash Gone Trump Takes Second Swing at Cutting Housing Assistance for Immigrants A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome The survey highlights a political challenge for Carney, who became prime minister in March, then won a snap election in April by promising to strike a new trade and security relationship with the US. He hasn't been able to deliver on that yet, and the Nanos poll suggests the public harbors serious doubts that any agreement would be lasting. Trump signed off on the new US-Mexico-Canada Agreement during his first term in office, hailing it as the 'largest, fairest, most balanced and modern trade agreement ever achieved.' Since returning to power in January, he has nevertheless imposed tariffs on steel, aluminum, automobiles and other products from Mexico and Canada. On Aug. 1, the US increased its tariff to 35% on imports of Canadian products that don't comply with USMCA. The previous rate was 25%. The White House said the move was justified because Canada hasn't done enough to crack down on fentanyl trafficking. Still, Canadian exporters, on average, face a lower tariff rate because the White House has kept an exemption in place for many products from Canada and Mexico, as long as they're shipped in compliance with the rules of USMCA. The trade agreement is scheduled for a review next year. The economic stakes of a trade deal are much higher for Canada than for most other countries. Last year, three-quarters of Canada's merchandise exports went to the US, led by oil and gas. Exports represent about a third of the country's gross domestic product. At the same time, the northern nation is a large market for US exporters — about $440 billion in US goods and services last year, more than any other country, according to US Commerce Department data. Excluding energy products, the US has a trade surplus with Canada. Trump has made a series of deal announcements with other trading partners including Japan, South Korea and the UK that reduce taxes on US imports of their products. But the vague terms mean major trading partners have to been made to wait before the promised tariff relief kicks in. In May, UK Prime Minister Keir Starmer said he'd cut a deal with Trump to see US tariffs on British steel reduced to zero. It hasn't happened yet. Nor has the promised reduction of US import taxes on vehicles from the European Union, Japan and South Korea. In a Tuesday interview with CNBC, Commerce Secretary Howard Lutnick said written documents on some recent trade deals were 'weeks away.' In the same Nanos survey, a majority of respondents said the impact of US tariffs on the Canadian economy is about the same as they'd expected. Fifteen percent said the impact has been better than they thought it would be, 17% said it was worse and 12% of respondents were unsure. Nanos surveyed 1,034 Canadian adults online and on the phone between July 31 and Aug. 6. The results are accurate to plus or minus 3.1 percentage points, 19 times out of 20. --With assistance from Laura Dhillon Kane. Foreigners Are Buying US Homes Again While Americans Get Sidelined What Declining Cardboard Box Sales Tell Us About the US Economy Women's Earnings Never Really Recover After They Have Children Survived Bankruptcy. Next Up: Cultural Relevance? Americans Are Getting Priced Out of Homeownership at Record Rates ©2025 Bloomberg L.P.
