Welcome to our dedicated page for Franchise Group news (Ticker: FRG), a resource for investors and traders seeking the latest updates and insights on Franchise Group stock.
Franchise Group, Inc. (NASDAQ: FRG) is a diversified and rapidly growing holding company with a focus on acquiring and operating franchise businesses. Founded in 1997, Franchise Group currently owns and operates a diverse portfolio of brands across various sectors, including retail, tax preparation, and wellness. The company is renowned for its strategic acquisitions and robust operational capabilities, which enable it to enhance the growth and profitability of its subsidiaries.
One of Franchise Group's most notable subsidiaries is Liberty Tax, a leading tax preparation service provider. Established by tax industry expert John Hewitt, Liberty Tax has rapidly expanded its footprint with over 4,000 offices in the U.S. and Canada, prepared nearly 16 million individual tax returns, and supported a network of over 30,000 tax preparers. The company is recognized for its unique marketing strategies, including the iconic Liberty wavers, and its commitment to franchisee success.
Another significant brand under Franchise Group's umbrella is The Vitamin Shoppe, a global, omnichannel specialty retailer dedicated to providing nutritional solutions. With over 690 retail stores and a substantial online presence, The Vitamin Shoppe offers a wide array of vitamins, minerals, sports nutrition, and wellness products, including proprietary brands like BodyTech® and plnt®.
Franchise Group's recent achievements include the expansion of PHOCUS, a mental acuity beverage, through an exclusive partnership with The Vitamin Shoppe. This collaboration, highlighted by the introduction of a new pineapple flavor, underscores the company's commitment to innovation and quality. PHOCUS, co-owned by Grammy-nominated artist Jack Harlow, stands out in the functional beverages market with its clean and effective formula, featuring ingredients like L-Theanine for balanced alertness.
Financially, Franchise Group remains robust, consistently delivering strong revenue growth and maintaining a healthy balance sheet. The company's strategic acquisitions and partnerships, such as the recent collaboration between Gorilla Mind and The Vitamin Shoppe, continue to drive its market presence and consumer engagement.
Overall, Franchise Group's diversified portfolio, strategic growth initiatives, and focus on operational excellence position it as a significant player in the franchise industry, continually enhancing value for shareholders and delivering top-tier products and services to consumers.
HOLISTIK Wellness has partnered with The Vitamin Shoppe to offer its award-winning CBD products in over 600 retail locations across the U.S. The collaboration begins today, with HOLISTIK's unique Stir STIKs available at The Vitamin Shoppe. The products are cultivated from hemp grown indoors in crushed coconut, promoting purity. The Stir STIKs provide a convenient delivery system for consuming CBD, with formulations supporting wellness through ingredients like lion's mane and melatonin. Each STIK contains a daily serving of 10mg of CBD, retailing for $3.99 each or $29.99 for a 10-pack. The partnership aims to meet the growing consumer demand for trusted, quality CBD products.
Franchise Group, Inc. (NASDAQ: FRG) will release its fiscal 2023 first quarter financial results on May 10, 2023. The company will hold a conference call that same day at 4:30 P.M. ET to discuss its results. Investors can access the live webcast on the Events page of Franchise Group's website. Franchise Group oversees various brands including Pet Supplies Plus, The Vitamin Shoppe, and American Freight, operating over 3,000 locations primarily in the U.S. The company emphasizes a strategy focused on strong cash flow generation for its shareholders through expansion of its franchised businesses.
Forward-looking statements in the release warn investors about uncertainties that could cause actual results to diverge from expectations.
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