Empire Invites Canadians to ‘Feed The Dream’

Empire Co (TSE: EMP.A), the Official Grocer of the Canadian Olympic and Paralympic Teams, unveiled Tuesday the Winter 2022 Feed The Dream platform, in support of Canada’s Olympic and Paralympic athletes.

The Feed the Dream platform officially begins today and will run throughout the 2022 Olympic and Paralympic Winter Games.

Supporting Canadian Athletes

Building on the momentum of the Tokyo 2020 Games, Empire’s family of brands continue to celebrate the emotional connection between family, food and sport through its Feed The Dream platform.

Empire will provide grocery cards to all Olympic and Paralympic athletes who qualified for the 2022 Winter Games.

Empire will also celebrate its partner athletes as part of a comprehensive and immersive national experience in-store and online. Their stories will be told through short biographical videos, in-store posters, and limited-edition reusable grocery bags.

Management Commentary

“We are thrilled that our Feed The Dream platform brought out the pride and passion of Canadians and athletes last summer, and we are excited to continue fueling that momentum into the Winter Games,” said Sandra Sanderson, SVP, Marketing, Empire.

“The heartwarming stories about how families, friends, coaches and communities have rallied around Canadian athletes and Para athletes are emotional, inspirational and significant to their individual journeys. We are sharing some of these unique stories with Canada and inviting everyone to join us and share their unique experiences of how they Feed The Dream every day. This platform highlights the determination and discipline of Canadian athletes, and the power of family on their journey – from backyard skating rinks and local ski hills, to the biggest stage in sport.”

Wall Street’s Take

Last month, Desjardins analyst Chris Li kept a Buy rating on EMP.A and a C$45 price target. This implies 17.7% upside potential.

Consensus among analysts is that EMP.A is a Moderate Buy based on three Buys and two Holds. The average Empire Co price target of C$45.60 implies 19.3% upside potential to current levels.

Download the TipRanks mobile app now