Empire Company (A) | StockChase
136
Empire Company (A) (EMP.A-T)

Last Price Recorded: $24.3900 on 2017-11-17

ON STOCKCHASE SINCE Dec 2000

Maritimes

food stores

Empire Company (A)


Signal Opinion Expert

2017-11-13

TOP PICK
Empire Company (A) (EMP.A-T)

This is a turnaround in the food business.  The acquisition was bad and they did not understand what they were getting.  They brought in new management with a new way of looking at it.  (Analysts’ target: $27.50).

food stores
Brendan Caldwell

President, Caldwell Securities

Price: $25.030
Owned: Yes

2017-09-27

COMMENT
Empire Company (A) (EMP.A-T)

Loblaw (L-T), Empire (EMP.A-T) or Metro (MRU-T)? Loblaw has proven to be the best run grocer in Canada. This company has had its challenges but under the new CEO, it is showing that it is starting to come back. If you are a turnaround person, even though it has had a big run already, it is starting to outperform off a very bad low, and has the most turnaround potential.

food stores
Norman Levine

Managing Director, Portfolio Management Corp

Price: $22.030
Owned: Unknown

2017-07-26

WAIT
Empire Company (A) (EMP.A-T)

This has come up with a plan which encouraged the market, but he feels the market has gotten a little ahead of itself. He hasn’t quite seen how the plan is going to impact them and work on a long-term basis. He would tend to be on the sidelines for a while.

food stores
David Cockfield

Managing Director, Northland Wealth Management

Price: $21.050
Owned: Unknown

2017-07-04

COMMENT
Empire Company (A) (EMP.A-T)

Sell because of the Amazon-Whole Foods deal? There are only 11 or 13 Whole Foods stores in Canada. Empire has its own problems in fixing Safeway in Western Canada. When Amazon announced the deal, Canadian stocks dropped 3%-5%. It will take a few years for Amazon to roll out their US stores. If he were forced to own one food store in Canada, it would be Loblaw’s (L-T).

food stores
Bruce Campbell (1)

President, Campbell and Lee InvMngmnt

Price: $22.060
Owned: No

2017-06-13

COMMENT
Empire Company (A) (EMP.A-T)

Had owned this for a long time, but is frightened at what is going to happen with the grocery space. There are a couple of European grocery chains that have come into the US, that have phenomenal low prices and terrific stores. It is only a matter of time until they come to Canada. When you walk through Sobey’s stores, they are not up to snuff.

food stores
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $19.980
Owned: No

2017-05-18

WAIT
Empire Company (A) (EMP.A-T)

This company has had a tough time. They had a “drop the ball” situation in Alberta. They now have a three-year plan and are going to spend $500 million to bring their stores up. However, it is early yet. He would sit on the sidelines for a while, to see how it works out.

food stores
David Cockfield

Managing Director, Northland Wealth Management

Price: $20.930
Owned: No

2017-04-28

DON'T BUY
Empire Company (A) (EMP.A-T)

They made a huge purchase of Safeway at just the wrong time, just before the Western economy fell apart. This isn’t the 1st time they have stumbled, in one way or another. They will eventually pull out of this, but they are behind the 8 ball right now. He prefers Loblaws (L-T), which is the dominant player in Canada. It also has the biggest reach into the discount outlets.

food stores
Michael Sprung

President, Sprung Investment Management

Price: $21.015
Owned: No

2017-04-10

PAST TOP PICK
Empire Company (A) (EMP.A-T)

(Top Pick Mar 18/16, Down 6%) He thought the bad news was in the stock, but then they wrote off the other half of the costs.  They have a new CEO now.  It will get turned around eventually. 

food stores
Gavin Graham

Trustee, Pointbreak ETFs

Price: $20.380
Owned: No

2017-03-17

COMMENT
Empire Company (A) (EMP.A-T)

They took on a horrendously big acquisition at the wrong time. No one could have foreseen the downturn that would take place in Alberta, which compounded the problem. This can happen when companies pay aggressively for acquisitions. It is going to take them some time to work through. If you have a really, really long time horizon, this can correct. Prefers some of their competitors.

food stores
Michael Sprung

President, Sprung Investment Management

Price: $18.570
Owned: No

2017-02-15

DON'T BUY
Empire Company (A) (EMP.A-T)

Groceries is a difficult business. They spectacularly botched the acquisition of Safeway Canada in 2013, paying $5.5-$6 billion. Since announcing the acquisition, EPS has dropped from about $1.75 to about $.65-$.70. The debt has been downgraded, and the stock has fallen off a cliff. Just brought in a new CEO. His concern is that the new CEO is unproven in grocery retailing. The company has a lot to wrap its arms around in terms of untangling the mess.

food stores
Brian Madden

Senior VP & Portfolio Manager, Goodreid Investment Council

Price: $16.910
Owned: No

2017-02-09

DON'T BUY
Empire Company (A) (EMP.A-T)

Most of the chatter on this is the Sobey’s position. It’s an OK business, but when you look at its competitors, both Metro and Loblaw’s, it is sort of a 3rd tier. An extremely cheap stock. The grocery market is a tough one and he would put Holds on all these names. They are really going to rely on food inflation, and he is positive on that side, but the competition is going to be very, very intense.

food stores
Jim McGovern

CEO, Arrow Capital Management

Price: $16.810
Owned: Unknown

2017-01-11

DON'T BUY
Empire Company (A) (EMP.A-T)

He doesn’t like falling knives. This one has been a train wreck. They bought Safeway Canada stores about 2-3 years ago, and bungled it spectacularly. They overpaid and over promised. This was at a time when the grocer consumer was becoming more and more price sensitive. Grocery stores have very high operating leverage. As much is their sales are falling, their earnings are falling off a cliff. A big massive beast and is not going to turn around on a dime.

food stores
Brian Madden

Senior VP & Portfolio Manager, Goodreid Investment Council

Price: $15.580
Owned: No

2016-12-20

COMMENT
Empire Company (A) (EMP.A-T)

The road ahead is uncertain. This is a disaster to say the least. We don’t know what is going to happen, but thinks that the issues are fixable. They are trying to transform their business into a low-cost provider of food. Sales aren’t that bad, and that will continue until Alberta turns around.

food stores
Barry Schwartz

CIO & Portfolio Manager, Baskin Wealth Management

Price: $15.280
Owned: Yes

2016-12-15

DON'T BUY
Empire Company (A) (EMP.A-T)

This company’s big problem is their acquisition of Safeway. They thought they would get the diversification outside of Ontario and the Maritimes, but just don’t understand that the Western supermarket business is a lot different. They dropped the ball and are paying the price for it. Stock was down 17% today. Feels this is more of a tax loss situation right now.

food stores
David Driscoll

President & CEO, Liberty International Investment Management Inc

Price: $15.520
Owned: Unknown

2016-12-09

BUY
Empire Company (A) (EMP.A-T)

He doesn’t cover this closely. This is Sobey’s, which is going through some operational concerns. He is pretty confident in management and that they are going to get through that. You want to buy a good quality name when it has kind of fallen on itself. This is a good time to be picking away at this, particularly during the tax loss selling season.

food stores
Greg Newman

Director & Portfolio Manager, Scotia Wealth Management

Price: $18.510
Owned: Yes

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