Empire will invest 2.1 billion for its expansion

Empire investira 2,1 milliards pour son expansion

Photo: Marie-France Coallier The Duty
The company’s nova scotia, including the owner of the signs, IGA, and Sobeys, said it would use part of the money to open about 20 new Farm Boy stores in Ontario and how to convert between 30 and 35 conventional stores in the Western canadian institutions FreshCo.

Empire announced on Wednesday that it intends to spend $ 2.1 billion over the next three years for the construction and renovation of stores, the expansion of its offer of electronic commerce and that of its portfolio of private brands, in order to increase to 500 million its results annualized.

The company’s nova scotia, including the owner of the signs, IGA, and Sobeys, said it would use part of the money to open about 20 new Farm Boy stores in Ontario and how to convert between 30 and 35 conventional stores in the Western canadian institutions FreshCo.

The increase target of $ 500 million in earnings before interest, taxes, depreciation and amortization will come from the increase of its market share, and management “disciplined” its costs and its margins. The target financial does not take into account the impact of the pandemic COVID-19.

The strategic plan, called Project Horizon, is a continuation of her three-year plan previous, which has surpassed its cost-savings target of $ 550 million. The publication of the plan has been delayed since may, the company is focusing on the adjustment to the pandemic, which has led to an increase in traffic to its stores.

“While the area of retail sale of Canada reacts even to the disruption caused by the pandemic, it has never been so clear that we need to be able to serve customers when, where, and the manner of their choice,” said in a press release the president and chief executive officer of Empire, Michael Medline.

Walmart Canada

This announcement follows the one made on Monday, Walmart Canada which plans to invest $ 3.5 billion over the next five years, its activities were on the rise in Canada, online grocery shopping and e-commerce in particular. The retailer plans to accelerate the scan to make its stores more intelligent, in particular, by using labels of tablets and digitizers for tablets to monitor the volumes of products. Walmart Canada will amend its funds with larger areas of caisses self-service, and will use the services of payment technologies on mobile devices so that customers can pay for their purchases anywhere in the store.

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