07:58 AM EST, 12/12/2024 (MT Newswires) -- Empire Company (EMP-A.TO) on Thursday reported lower second-quarter adjusted profit.

Adjusted net earnings fell to $173.4 million, or $0.73 per share, missing the FactSet forecast of $0.74. Empire reported adjusted earnings of $178.3 million, or $0.71 per share, last year.

Sales rose 0.3% to $7.78 billion - meeting FactSet's estimate - from $7.75 billion. While the company recorded growth across the business, this was offset by lower fuel sales driven by both lower fuel prices and lower volume.

Empire will pay a quarterly dividend of $0.20 on Jan. 31.

For fiscal 2025, capital spending is expected to be $700 million, with half of this investment allocated to renovations and new store expansion. The company is on track with its plan to renovate about a quarter of the network between fiscal 2024 and fiscal 2026.

Management said it aims to grow total adjusted EPS over the long-term through net earnings and share purchases.