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, Inc. (NASDAQ: CHEF) announced the upcoming release of its financial results for Q4 and fiscal year ending December 25, 2020, scheduled for February 10, 2021, before market opening. A conference call will follow at 8:30 a.m. ET the same day to review these results, which will be available via a live webcast on the company's investor relations website. An online archive of the call will remain accessible for 30 days.
RIDGEFIELD, Conn., Dec. 29, 2020 – The Chefs’ Warehouse (NASDAQ: CHEF) will present at the 2021 ICR Conference on January 13, 2021, at 12:30 p.m. ET. This virtual event will allow investors and interested parties to access a webcast through the Company’s investor relations website.
The Chefs’ Warehouse is a leading distributor of specialty food products in the U.S. and Canada, focusing on the needs of chefs in restaurants, hotels, and other culinary establishments.
The Chefs' Warehouse (NASDAQ:CHEF) announced the election of Aylwin Lewis and Ivy Brown to its Board of Directors, effective January 1, 2021. Lewis brings extensive experience from his tenure at Potbelly Corporation and Sears Holdings, while Brown, a former UPS executive, offers strong credentials in operations and finance. Their addition aims to bolster the company’s strategic direction during the ongoing pandemic. The Board expects their expertise will support Chefs' Warehouse in navigating challenges and leveraging growth opportunities.
The Chefs' Warehouse reported a third quarter net loss of $11.4 million, or $(0.31) per diluted share, a decline from net income of $4.4 million in Q3 2019. Net sales fell by 36.0% to $254 million year-on-year, with a 44.9% decline in organic revenue. However, on a sequential basis, net sales improved by 26.7% or $53.5 million from Q2 2020. Adjusted EBITDA was $(4.9) million, down from $21.6 million a year earlier. The company held $193 million in cash, while full-year guidance was not provided due to ongoing market uncertainties.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) will announce its financial results for the third quarter ended September 25, 2020, before market opens on October 28, 2020. A conference call will follow at 8:30 a.m. ET on the same day to discuss the results. The call will be available for live streaming on the Company’s investor relations website, with an archive accessible for 30 days.
Chefs’ Warehouse is a leading distributor of specialty food products in the U.S. and Canada catering to chefs in various culinary sectors.
The Chefs' Warehouse, Inc. (NASDAQ:CHEF) has announced the acquisition of selected assets from Harris Seafood LLC, based in Orlando, Florida, aimed at accelerating seafood category growth in the Southeast. CEO Christopher Pappas expressed excitement about leveraging Harris Seafood's local relationships to enhance seafood quality. The acquisition aligns with the company's focus on high-quality food distribution across North America, supporting their commitment to chefs and culinary excellence.
The Chefs’ Warehouse (NASDAQ: CHEF) reported a 51.3% decrease in net sales for Q2 2020, totaling $200.5 million, down from $411.4 million in Q2 2019. The net loss was $20.3 million or $(0.57) per share, compared to a net income of $7.7 million or $0.26 per share in the prior year. Adjusted EBITDA was $(13.7) million. As of July 24, 2020, the company had $241.8 million in available liquidity. Due to ongoing uncertainty from COVID-19, no guidance for 2020 was provided.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) will release its second quarter financial results for the period ended June 26, 2020, on July 29, 2020, prior to market opening. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss these results. Interested parties can access the call through the Company’s investor relations website, where a recording will be available for 30 days post-event. The Chefs’ Warehouse is a leading distributor of specialty food products serving a diverse range of culinary establishments across North America.
On June 10, 2020, The Chefs’ Warehouse announced its participation in the virtual Jefferies Consumer Conference, scheduled for June 24, 2020, at 1:30 p.m. ET. The company is a leading distributor of specialty food products in the U.S. and Canada, catering to chefs in various sectors, including independent restaurants and hotels. With a portfolio of over 55,000 products, The Chefs’ Warehouse serves more than 34,000 customers. Investors can access the presentation via the company’s investor relations website.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) announced a $75 million common stock purchase agreement with Jefferies LLC, which includes an over-allotment option of $11.25 million. The offering aims to enhance liquidity and will fund general corporate purposes like working capital, debt repayment, and investments in sales operations. The shares are offered under a shelf registration statement effective April 10, 2020. This press release clarifies that it is not an offer to sell or buy any shares and provides details on obtaining related documents from the SEC.
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