Management’s primary objective is to maximize the long-term sustainable value of Empire through enhancing the worth of the Company’s net assets. This is accomplished through direct ownership and equity participation in businesses that management understands and believes to have the potential for long-term sustainable growth and profitability, principally food retailing and related real estate.
The Company is focused on restoring core strengths in food retailing and related real estate by directing its energy and capital towards growing long-term sustainable value through cash flow, income growth and cost reductions. While our core businesses are admired by Canadians and well established, they also offer Empire geographical diversification across Canada, which is considered by management to be a source of strength. Going forward, the Company intends to direct its resources towards the most promising opportunities such as the transformation initiative, Project Sunrise, improving the Company’s proposition to customers and restoring profitability in the West business unit.