Welcome to our dedicated page for Chefs' Warehouse news (Ticker: CHEF), a resource for investors and traders seeking the latest updates and insights on Chefs' Warehouse stock.
The Chef's Warehouse Inc. (NASDAQ: CHEF) is a premier specialty food distributor catering to high-end chefs and culinary professionals for over 30 years. With a robust presence in major metropolitan areas across the United States, Canada, and the Middle East, the company sources and supplies fine food products to top-tier restaurants, hotels, caterers, gourmet stores, culinary schools, and casinos.
The company's extensive product portfolio includes a variety of imported and locally sourced specialty foods such as artisan charcuterie, specialty cheeses, oils, vinegars, hormone-free protein, truffles, caviar, and chocolate, meeting the stringent standards of elite chefs. The Chef's Warehouse operates through a single reporting segment called Food Product Distribution, primarily serving the East, Midwest, and West coasts of the U.S.
In recent financial updates, the company reported strong year-over-year organic revenue growth and adjusted EBITDA in the second quarter of 2023, despite challenges like volatile weather conditions and protein category fluctuations. The third quarter of 2023 saw sequential improvements in business activity, driven by strong growth in customer acquisition and volume growth. The fourth quarter of 2023 showcased increased operating income and higher gross profit margins.
Moreover, the company has entered into a Cooperation Agreement with Legion Partners Asset Management, LLC, signaling a strategic move towards enhancing its operational and financial performance. As part of this agreement, three new independent directors have been appointed to the Board, bringing valuable expertise from various industries.
As of early 2024, The Chef’s Warehouse continued its strong performance with first-quarter results indicating steady revenue growth and sustained customer demand. The company remains focused on delivering high-quality products and exceptional service to its diverse clientele, leveraging its flexible distribution platform for continued growth and success.
Contact: Investor Relations, Jim Leddy, CFO, (718) 684-8415
The Chefs' Warehouse (NASDAQ:CHEF) announced the acquisition of certain assets from Martin Preferred Foods, based in Houston, Texas, to enhance its specialty protein distribution in the region. This strategic move aims to strengthen its presence in the Texas market and expand the Allen Brothers brand offerings. The CEO of Martin Preferred Foods expressed excitement over refocusing on manufacturing value-added proteins post-sale. This acquisition aligns with The Chefs' Warehouse's goal of servicing more chefs with high-quality products.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) plans to announce its financial results for the third quarter ending September 24, 2021, before the market opens on October 27, 2021. A conference call will follow at 8:30 a.m. ET, allowing investors to review the outcomes. This call will be accessible live via the Company’s investor relations website, with an online archive available for 30 days post-event.
The Chefs' Warehouse (NASDAQ:CHEF) has acquired Silver State Meats, enhancing its specialty protein presence in Las Vegas. Founded in 2012, Silver State Meats specializes in high-quality beef, chicken, and pork. This acquisition is projected to generate approximately $20 million in annual net sales. CEO Christopher Pappas emphasized the alignment of values between both companies, aiming to serve top chefs in the Las Vegas area. This strategic move is part of The Chefs' Warehouse’s plan to expand its market influence in the specialty food sector.
The Chefs’ Warehouse, a leading distributor of specialty food products, will participate virtually in Lake Street’s 5th Annual Best Ideas Growth (BIG5) Conference on September 15, 2021. Management will be available for one-on-one meetings throughout the day. Interested parties can contact their sales representatives for meeting arrangements or invitations. The Chefs’ Warehouse serves over 34,000 customer locations across the U.S. and Canada, offering more than 50,000 products tailored for chefs and culinary professionals.
The Chefs’ Warehouse, a leader in specialty food distribution, announces its participation in the CL King's 19th Annual Best Ideas Conference on September 14, 2021, at 11:00 a.m. ET. This virtual presentation offers investors a chance to gain insights into the company's operations and strategies.
Listeners can access the webcast through the company's investor relations website. With over 50,000 products distributed across more than 34,000 customer locations, The Chefs’ Warehouse serves key sectors, including restaurants, hotels, and culinary schools throughout the U.S. and Canada.
The Chefs’ Warehouse reported a significant financial turnaround in its second quarter of 2021. Net sales surged 111.0% to $423.0 million from $200.5 million in Q2 2020. GAAP net income reached $1.1 million, or $0.03 per diluted share, a stark recovery from a net loss of $20.3 million in the same period last year. Adjusted EBITDA also improved to $17.2 million, compared to a negative $13.7 million in Q2 2020. Despite positive trends, the company refrained from providing full-year guidance due to ongoing economic uncertainties.
Chefs' Warehouse, Inc. (NASDAQ: CHEF) will announce its financial results for the second quarter ending June 25, 2021, before the stock market opens on July 28, 2021. The company will host a conference call at 8:30 a.m. ET on the same day to discuss these results. Interested parties can listen to the call via webcast on the company's investor relations website, with an archive available for 30 days. Chefs' Warehouse is a leading distributor of specialty food products in the U.S. and Canada, serving over 34,000 customers with more than 50,000 products.
The Chefs’ Warehouse (NASDAQ: CHEF) has announced the acquisition of substantially all assets of Nicola Imports, a key supplier of specialty food products in Arizona and Colorado. This strategic move enhances Chefs’ Warehouse's commitment to the Arizona market and marks its entry into Denver, aligning with long-term growth objectives. The acquisition aims to integrate complementary operations and expand market reach, serving more than 34,000 customer locations with over 55,000 products.
On June 15, 2021, The Chefs’ Warehouse announced its virtual presentation at the Jefferies Consumer Conference on June 22, starting at 9:10 a.m. ET. Investors can access the webcast via the company's investor relations website. The Chefs’ Warehouse is a leading distributor of specialty food products in the U.S. and Canada, catering to a diverse clientele including independent restaurants, hotels, and culinary schools. The company distributes over 50,000 products to more than 34,000 customer locations.
The Chefs' Warehouse has expanded its Welcome Back campaign beyond NYC to new markets across North America. This initiative promotes independent restaurants by sharing the personal stories of chefs. Highlighted chefs include Danny Ye from Catch LA and Jack Logue from Tribeca Kitchen, both emphasizing the connection between food and unity. With over 35 years of experience, the company continues to provide top-quality ingredients to chefs, featuring a variety of culinary professionals in their campaign throughout the summer.
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