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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Empire Company Limited    EMP.A   CA2918434077

EMPIRE COMPANY LIMITED

(EMP.A)
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Delayed Quote. Delayed Toronto Stock Exchange - 11/25 04:15:05 pm
35.55 CAD   -1.52%
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Empire : National plan focused on early interventions in Child and Youth Mental Health unveiled by Canada's Children's Hospital Foundations

08/27/2020 | 10:27am EST

Canada's Children's Hospital Foundations (CCHF) is pleased to announce the launch of a groundbreaking partnership to address the critical need for early interventions in child and youth mental health.

'A Family of Support' Child and Youth Mental Health Initiative will fund local mental health programs to support specific provincial needs at 13 Canadian children's hospitals. 'Partnerships like this matter,' said Mark Hierlihy, President and CEO, Canada's Children's Hospital Foundations. 'Mental health challenges continue to pose an enormous threat to Canadian families from coast to coast and children and youth are among the most vulnerable. Sobeys has recognized the importance of this issue in communities where their employees live and work and, as a family-focused company, want to invest in a national initiative focused on child and youth mental health.' Children, youth, and families struggling with mental health challenges routinely visit children's hospitals for support. As a result, children's hospitals face an unprecedented demand for their services in mental health. Early interventions for children, youth and their families are key to preventing long-term struggles with mental illness. Unfortunately, the impacts of COVID-19 have resulted in an even greater need for child and youth mental health services. 'This initiative puts the brightest minds together to create tangible, meaningful impact in child and youth mental health, where early intervention is critical,' said Dr. Ronald Cohn, President and CEO, The Hospital for Sick Children (SickKids). 'According to the Canadian Institute for Health Information (CIHI), between 2006-2007and 2017-2018, there was a staggering 75 per cent increase in emergency department visits by children and youth for mental health conditions. This initiative will enhance capacity and availability of hospital-based mental health services to children and youth with an aim to improve outcomes and, reduce stress among families struggling with mental health issues.'

Early intervention and education are at the heart of each hospital's programs and CCHF will share progress and impacts of the initiative on a regular basis. The programs aim to help children's hospitalsreduce patient wait times, create, and adapt clinical spaces, expand capacity across the healthcare system and enhance training for mental health leaders, pediatricians and frontline healthcare workers. Each of Canada's 13 children's hospital foundations will have the flexibility to allocate funds to their highest-priority mental health early intervention needs. Sobeys Inc. and the Sobey Foundation has supported a number of children's hospitals across Canada, among them the IWK Health Centre in Halifax, Nova Scotia. 'I am so proud that one of Canada's leading companies with roots in Atlantic Canada is also making a major commitment to 13 of Canada's children's hospitals through this national partnership,' says Jennifer Gillivan, President & CEO, IWK Foundation and Chair, CCHF Board of Directors. 'I have witnessed first-hand the tremendous impact Sobeys has made in communities, both here at home and across Canada. This national initiative is groundbreaking and highlights Sobeys' strong local values and commitment as a family-focused company.' To fund the 'A Family of Support' initiative, the Sobey Foundation and Sobeys Inc. have committed to donating and raising millions of dollars. Funding from the initiative will help enhance access to highquality, long-term mental health care for families across Canada. 'This initiative brings these two legacies together to support a mammoth need among Canadian families. Our stores have an incredible legacy of contributing to their local communities and the wonderful Sobey family, through their foundation, has a proud history of championing mental health challenges,' said Michael Medline, President & CEO, Empire. 'We're grateful to Heather Sobey-Connors for continuously championing this vital cause. We had started our work on this initiative before the COVID-19 pandemic and now the need has grown even greater. Together with the Sobey Foundation, CCHF, our teammates, customers, and suppliers, we will build healthier tomorrows for generations to come.' Canadians will have the opportunity to donate to the 'A Family of Support' initiative through an in-store fundraising campaign running from September 17 to October 1 at Sobeys Inc. banner stores including: Sobeys, Safeway, IGA, Farm Boy, Foodland, FreshCo, Lawton's Drugs, Thrifty Foods, Co-op, Need's Convenience, Pete's Frootique & Fine Foods, IGA Express, Sobeys Express, Rachelle Bery, and Voisin. Marches Tradition and Bonichoix will run their fundraising campaign later this year. One hundred per cent of the funds raised will support local children's hospitals and their 'A Family of Support' program. 'Now, perhaps more than any other time in recent history, people need to know that there are forces hard at work to carve out a clear path for mental health care and education,' said Heather Sobey-Connors, Chair of the Sobey Family Council and Sobey Foundation Trustee. ' The Sobey Foundation. 'For too long, the path has been littered with obstacles and challenges for Canadian families. We have a responsibility to come together and be there for our children, and act as a dedicated support system to ensure they are not alone.' Canada's children's hospitals see over 5,000 children and youth each day and are home to world-leading experts whose research aims to put new knowledge and tools in the hands of frontline child healthcare providers. The children's hospitals depend on the support of community partners to spearhead a long overdue shift in our healthcare system, one that will promote healthier and more resilient families for generations to come.

About Canada's Children's Hospital Foundations Canada's Children's Hospital Foundations (CCHF), established in 2017, is a not-for-profit organization that raises funds for a national network of hospital foundations as the largest single, non-government funder of child health in Canada. CCHF continues to receive generous support through donors within Children's Miracle Network as well as contributions from additional companies and donors. Together, we represent 13 of Canada's children's hospitals where the greatest challenges are tackled; our hospitals 3 see the most critical cases. Your contribution helps your local children's hospital ensure that all sick and injured children have access to the very best care from coast to coast.

About Sobeys Inc.

Proudly Canadian, with headquarters in Stellarton, Nova Scotia, Sobeys has been serving the food shopping needs of Canadians since 1907. Sobeys Inc., a wholly-owned subsidiary of Empire Company Limited (TSX: EMP.A), owns, affiliates or franchises more than 1,500 stores in all 10 provinces under retail banners that include Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Farm Boy and Lawtons Drugs as well as more than 350 retail fuel locations. Sobeys, its franchisees and affiliates employ approximately 127,000 people. More information on Sobeys Inc. can be found at www.sobeyscorporate.com.

Contact:

Tel: (902) 943-7091

Email: Natasha.compton@sobeys.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 27 585 M 21 207 M 21 207 M
Net income 2021 - - -
Net Debt 2021 5 803 M 4 461 M 4 461 M
P/E ratio 2021 -
Yield 2021 1,46%
Capitalization 9 569 M 7 359 M 7 356 M
EV / Sales 2021 0,56x
EV / Sales 2022 0,54x
Nbr of Employees 127 000
Free-Float 62,5%
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Number of Analysts 9
Average target price 42,44 CAD
Last Close Price 35,55 CAD
Spread / Highest target 26,6%
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Spread / Lowest Target 12,5%
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Managers
NameTitle
Michael B. Medline President, Chief Executive Officer & Director
James Malcolm Dickson Chairman
Pierre St. Laurent COO-Full Service, EVP-Merchandising & Quebec
Michael Harold Vels Chief Financial Officer & Executive Vice President
John Robert Sobey Independent Director
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