May 4, 2017 / 11:57 AM / 3 months ago

BRIEF-Empire Co says to deliver $500 mln in annualized savings by 2020

May 4 (Reuters) - Empire Company Ltd

* Empire launches major transformation initiative to simplify its business, unlock national scale and significantly reduce costs

* Company to deliver $500 million in annualized savings by 2020

* Empire company - annualized cost savings will come from collapsing multiple, independent regions into largely national, functionally-led structure

* Initial results from transformational initiative are not expected to be reflected until end of calendar 2017

* Empire company - initial one-time costs will begin to be expensed in q4 of fiscal 2017 with majority of costs expensed in first half of fiscal 2018 Source text for Eikon: Further company coverage:

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