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.
The Vitamin Shoppe has entered into a partnership to become the Official Supplement Retail Partner of the IRONMAN U.S. Series. This collaboration aims to enhance nutritional support for endurance triathletes participating in IRONMAN events. Athletes will have access to the IRONMAN at The Vitamin Shoppe site for exclusive discounts on supplements and curated nutritional resources, backed by certified nutritionists. The Vitamin Shoppe's products, including its True Athlete® brand, are NSF Certified for Sport®, ensuring compliance with anti-doping standards.
The Vitamin Shoppe has launched a new franchising model, allowing independent operators to open stores across the U.S. for the first time in its 44-year history. This initiative enables franchise partners to leverage the brand's reputation in the health and wellness sector. Franchisees will be rewarded for driving sales via a commission structure, ensuring a seamless omnichannel experience. The first franchised locations are expected to open later this year, with markets available in all states except Washington and Oregon. The Vitamin Shoppe continues to expand internationally with partnerships in Asia and Central America.
Franchise Group (NASDAQ: FRG) announced that CEO Brian Kahn and EVP Andrew Kaminsky will attend several upcoming investor conferences. The conferences are scheduled for June 8 (Stifel), June 10 (Baird), June 15 (Oppenheimer), and July 13 (CJS Securities) in 2021. Franchise Group operates over 4,600 locations in the U.S. and Canada under brands like Pet Supplies Plus and The Vitamin Shoppe. The company focuses on growing its portfolio of franchised businesses to generate robust cash flow for shareholders.
Franchise Group (NASDAQ: FRG) reported Q1 2021 revenue of $621.3 million, with a net loss of $(28.3) million, or $(0.76) per share. Adjusted EBITDA was $79.2 million, and Non-GAAP EPS stood at $0.90. The company announced an increase in Adjusted EBITDA guidance from over $310 million to over $315 million and raised Non-GAAP EPS guidance from at least $3.25 to at least $3.35. Notably, Franchise Group added 90 new franchise locations and area development agreements. As of March 27, 2021, cash totaled $164.9 million, with outstanding debt of $1.3 billion.
Franchise Group (NASDAQ: FRG) announced the election of Lisa Fairfax and Cynthia Dubin to its Board of Directors, enhancing its governance structure. Fairfax will chair the Nominating & Corporate Governance Committee, while Dubin will chair the Audit Committee and serve on the Compensation and Risk Committees. This expands the Board to six members, five of whom are independent. The appointments are part of Franchise Group's ongoing commitment to improve its skill set and oversight capabilities to enhance shareholder value.
Franchise Group (NASDAQ: FRG) has announced a quarterly dividend of $0.46875 per share for Series A Cumulative Perpetual Preferred stockholders. This dividend is set to be paid on or about July 15, 2021, to shareholders on record as of the close of business on July 1, 2021. Franchise Group operates over 4,600 locations across its brands, including Pet Supplies Plus and The Vitamin Shoppe, focusing on strong cash flow generation for its investors.
Franchise Group announced a quarterly dividend of $0.375 per share, payable on or about July 15, 2021, to shareholders on record as of July 1, 2021. The company aims to generate robust cash flow from its diverse portfolio, which includes brands like Pet Supplies Plus and The Vitamin Shoppe, operating over 4,600 locations across the U.S. and Canada. The announcement reflects Franchise Group's commitment to returning value to shareholders amidst its strategic growth initiatives.
On May 4, 2021, The Vitamin Shoppe announced its initiative #SnaxForVax, offering a free healthy snack or beverage to customers with a documented Covid-19 vaccination from May 4 to 31. The promotion is valid at over 715 stores and includes various products from brands like Quest, ZOA, and CELSIUS. Additionally, the company supports its employees with paid time off for vaccinations and has hosted on-site vaccination events. CEO Sharon Leite emphasized their commitment to community health and wellness during the pandemic.
Franchise Group (NASDAQ: FRG) announced it will release its fiscal 2021 first quarter financial results on May 6, 2021. A conference call is scheduled for the same day at 4:30 PM ET to discuss these results and the company's business performance. Investors can access a live webcast via Franchise Group's website or call in with a passcode. The company operates over 4,600 locations across several brands including Pet Supplies Plus and The Vitamin Shoppe, aiming to generate strong cash flow for shareholders.
The Vitamin Shoppe has signed a multi-year sponsorship agreement with figure skater Bradie Tennell, the 2021 U.S. National Champion aiming for the 2022 Olympics. Tennell, ranked second globally, has a strong belief in sports nutrition, making her an ideal ambassador for the brand. This partnership emphasizes The Vitamin Shoppe's commitment to promoting health and wellness. Tennell is celebrated for her resilience in overcoming injuries and becoming a three-time U.S. champion. CEO Sharon Leite expressed excitement about the collaboration, highlighting Tennell's athleticism and dedication.
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