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.
Franchise Group reported strong fiscal Q2 2021 results, with total revenue of $862.8 million and net income of $32.5 million, translating to $0.74 per diluted share. Non-GAAP EPS reached $1.16, while Adjusted EBITDA stood at $91.8 million. Following the sale of Liberty Tax, the company is excluding its results from ongoing operations. The annual financial outlook has been revised upwards, projecting Adjusted EBITDA of at least $320 million, Non-GAAP EPS of $3.45 per share, and revenue exceeding $3.05 billion.
Franchise Group (NASDAQ: FRG) announced a quarterly dividend of $0.46875 per share for Series A Cumulative Perpetual Preferred stockholders. The dividend will be paid on October 15, 2021 to shareholders on record as of October 1, 2021. The company aims to grow its portfolio, which includes over 1,800 locations across brands like Pet Supplies Plus and The Vitamin Shoppe, while generating strong cash flow for shareholders. Franchise Group continues to implement its operating and capital allocation strategies to enhance shareholder value.
Franchise Group (NASDAQ: FRG) declared a quarterly dividend of $0.375 per share, scheduled for payment on October 15, 2021. Shareholders on record by October 1, 2021 will receive this cash dividend. The Company's portfolio includes brands like Pet Supplies Plus and The Vitamin Shoppe, with over 1,800 locations primarily in the U.S. Franchise Group continues to focus on cash flow generation for shareholders while pursuing growth opportunities.
The Vitamin Shoppe has launched its e-commerce site in South Korea, providing access to nearly 300 health and wellness products directly from the US. The new site offers door-to-door shipping within three days and features branded storefronts across 20 leading online marketplaces, including Coupang and Gmarket. CEO Sharon Leite highlighted South Korea's dynamic e-commerce market and health-conscious consumers as key drivers for this expansion. This move follows the company's previous entry into the Asian market with stores in Vietnam earlier in 2021.
The Vitamin Shoppe announced its first franchise agreement, marking a significant milestone in its 44-year history. This agreement will see three franchise stores open in Texas, specifically in East Austin, New Braunfels, and Harlingen, within nine months. Franchisees Joey and Marcy Zayas, experienced in the brand, aim to tap into growth opportunities in these markets. CEO Sharon Leite emphasized the importance of partnering with entrepreneurial individuals who share the brand's values. The Vitamin Shoppe continues to expand its reach, operating over 680 locations and offering a wide range of health products.
Franchise Group, Inc. (NASDAQ: FRG) will release its fiscal 2021 second quarter financial results on August 3, 2021. A conference call to discuss these results will take place on the same day at 4:30 P.M. ET. Investors can join the call via telephone or listen to a live webcast on Franchise Group's website. The company operates over 1,800 locations across brands such as Pet Supplies Plus and The Vitamin Shoppe, focusing on strong cash flow and growth through its franchised business model.
The Vitamin Shoppe has entered a sponsorship agreement with champion wrestler David Taylor, the 2018 World Champion in his weight class. Taylor emphasizes the importance of nutrition in his training, which aligns with The Vitamin Shoppe's mission to provide high-quality wellness products. CEO Sharon Leite expressed excitement about Taylor's competitive spirit and shared values. The Vitamin Shoppe operates over 715 retail stores and offers a wide range of nutritional products, including proprietary brands.
Franchise Group announced the completion of the combination of its Liberty Tax business with NextPoint Acquisition Corp., receiving about $249 million in total consideration. This includes $182 million in cash and $67 million in shares. The cash proceeds were utilized to repay $182 million of outstanding debt, signaling a commitment to a conservative financial policy. CEO Brian Kahn expressed optimism for NextPoint’s future as a public company and acknowledged the contributions of Liberty associates and franchisees.
The Vitamin Shoppe has partnered with GHOST, a sports nutrition brand, to offer its products in over 715 stores and online, marking a significant expansion of GHOST's distribution. GHOST, known for its innovative flavors and branding, will feature prominently in The Vitamin Shoppe's retail locations, diverging from the usual category-based merchandising. This collaboration, which follows the introduction of GHOST energy drinks in November 2020, showcases the commitment of both companies to enhance customer wellness with premium health products.
Tone It Up has entered a nationwide partnership with The Vitamin Shoppe to offer a variety of their plant-based nutrition products across more than 690 locations. This collaboration aims to meet the nutritional needs of women with products that are non-GMO, dairy-free, and gluten-free. The product lineup includes protein powders, bars, and ready-to-drink shakes. This partnership aligns with The Vitamin Shoppe's focus on plant-based solutions and is seen as a significant step to empower women in their health journeys.
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