Empire aims to reach 75 per cent of Canadian households in three years, through new distribution centres and online ordering
Walmart to invest $3.5 billion in Canadian operations to stay on top of COVID-shifted shopping habits
The customer fulfilment centres offer a better experience, Medline said. Each warehouse can carry up to 40,000 products and can ensure that groceries are delivered within a one-hour time period specified by customers. Because of their higher price points, however, Empire won’t build them in areas with smaller populations due to a fear of missing the return on investment. The store-pick solution will be the option there.
Medline has revived Empire since he joined the conglomerate in 2017. The company’s stock was trading around $16. It closed Wednesday at $33.53. The executive’s first three-year plan, Project Sunrise, was a “smash hit,” he said. The effort allowed Empire to simultaneously remove $550 million from its cost base and increase its adjusted earnings per share at a compound annual growth rate of 44 per cent.
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