- Seven new locations for
FreshCo discount banner - 37
FreshCo locations inWestern Canada confirmed to date (1.4 million gross square feet) - 22 stores now open across
British Columbia ,Saskatchewan andManitoba - Four stores in
Manitoba and two inAlberta to open in Spring 2021 - One store in
Saskatchewan to open in Summer 2021 - One store in
Alberta to open in Winter 2021/2022 - Six stores in
Alberta announced today for conversion toFreshCo - One store in
Northern Ontario announced today for conversion toFreshCo $11.7 million in store closure costs to be expensed in the third quarter of fiscal 2021
Empire is on track with the Project Horizon commitment to open 10 to 15
"Empire's discount network has grown 23 per cent since we opened our first store in the West only two years ago," said
Since
The six Alberta FreshCo store conversions announced today are:
In
The Company will work with the unions representing affected Safeway employees in
Store closure and conversion costs are estimated to be approximately
Click here for a full list of the 37 FreshCo store locations confirmed to date.
ABOUT EMPIRE
Additional financial information relating to Empire, including the Company's Annual Information Form, can be found on the Company's website at www.empireco.ca or on SEDAR at www.sedar.com.
FORWARD-LOOKING INFORMATION
This document contains forward-looking statements which are presented for the purpose of assisting the reader to contextualize the Company's financial position and understand management's expectations regarding the Company's strategic priorities, objectives and plans. These forward-looking statements may not be appropriate for other purposes. Forward-looking statements are identified by words or phrases such as "anticipates", "expects", "believes", "estimates", "intends", "could", "may", "plans", "predicts", "projects", "will", "would", "foresees" and other similar expressions or the negative of these terms. These forward-looking statements include, but are not limited to, the following items:
- The
FreshCo expansion inWestern Canada , including the Company's expectations regarding future operating results and profitability, the amount and timing of expenses, the projected number of store openings, and location, feasibility and timing of construction and conversions, all of which may be impacted by the novel coronavirus ("COVID-19"), construction schedules and permits, the economic environment and labour relations.
By its nature, forward-looking information requires the Company to make assumptions and is subject to inherent risks, uncertainties and other factors which may cause actual results to differ materially from forward-looking statements made. For more information on risks, uncertainties and assumptions that may impact the Company's forward-looking statements, please refer to the Company's materials filed with the Canadian securities regulatory authorities, including the "Risk Management" section of the fiscal 2020 annual Management's Discussion and Analysis.
Although the Company believes the predictions, forecasts, expectations or conclusions reflected in the forward-looking information are reasonable, it can provide no assurance that such matters will prove correct. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such forward-looking information. The forward-looking information in this document reflects the Company's current expectations and is subject to change. The Company does not undertake to update any forward-looking statements that may be made by or on behalf of the Company other than as required by applicable securities laws.
SOURCE
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