It reported $7.64 billion in fourth-quarter revenue, slightly below analyst estimates of $7.65 billion compiled by Visible Alpha. Empire beat expectations on net income, reporting $173 million compared to the $167 million expected by analysts. The company’s stock had risen five per cent as of 3 p.m. ET. (The Logic)

Talking point: The food retailer—which owns Sobeys, Farm Boy and FreshCo—isn’t noticing a huge pullback from customers despite low consumer sentiment, CEO Michael Medline told investors on a call. However, Canada’s grocery e-commerce market has grown slower than Empire expected. It paid $12 million to get out of an exclusivity agreement with U.K.-based Ocado, which built the three automated warehouses that power Empire’s home delivery service, Voilà. On Thursday Empire said it will reassess its plans for a fourth warehouse “once e-commerce penetration rates in Canada increase.” Empire is still seeing double-digit growth in Voilà, COO Pierre St-Laurent said on Thursday’s earnings call, but has also forged home delivery partnerships with Uber and Instacart, which target a younger crowd.