01:17 PM EST, 11/26/2024 (MT Newswires) -- Empire Co. will report its second quarter results on Dec. 12.

National Bank is expecting second quarter EPS to be 3.4% lower, reflecting lower investments & other operations (-45.1%), modestly higher SG&A rate (excl. D&A), higher D&A, higher interest expense and a higher tax rate, partly offset by positive Food Retailing (FR) sssg, a higher gross margin rate, share repurchases and the cycling of a strike at the Vaughan DC, among others.

Empire noted in its fiscal first quarter that it is beginning to see market conditions gradually improve. National's data suggests that even though the gap in customer sentiment between conventional and discount is narrowing, the consumer remains pressured.

"We remain on the sidelines as we look for confirmation of sustainable momentum; however, we note that the valuation is at a discount versus peers," Shreedhar said.

Reiterate Sector Perform; $46 target.

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