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.
Pet Supplies Plus, North America's largest independent pet retailer, announced that US Retail Holdings has signed a deal to acquire 29 Wag 'N Wash stores. This follows a previous commitment to open 20 additional stores over five years. The expansion primarily targets Nashville and Dallas, leveraging the existing Pet Supplies Plus presence. With more than 640 locations, Pet Supplies Plus aims to enhance customer experience through strong franchise operations. The partnership promises to double Wag N' Wash's footprint, emphasizing customer service and product variety.
Franchise Group (NASDAQ: FRG) announced its participation in key investor conferences. The events include the Stephens Annual Investment Conference on November 15, 2022, in Nashville, TN, and the Morgan Stanley Global Consumer & Retail Conference on December 6, 2022, in New York, NY. As a company focused on franchised businesses, Franchise Group operates over 3,000 locations primarily in the U.S. Their brands include Pet Supplies Plus, American Freight, and The Vitamin Shoppe. The company continues to seek growth while generating strong cash flow for shareholders.
Franchise Group, Inc. (NASDAQ: FRG) reported Q3 2022 revenue of $1.1 billion but incurred a net loss of $121.2 million, or $3.09 per share, including a $70 million goodwill impairment. The Company announced the formation of a new Home Furnishings Division, led by Peter Corsa, aimed at enhancing operational efficiency. Franchise Group also repurchased approximately 2.2 million shares for $77.9 million, reducing shares outstanding by over 5%. The fiscal 2022 outlook was revised, with revenue guidance maintained at $4.3 billion but decreased Adjusted EBITDA and Non-GAAP EPS projections.
Pathlight Capital has announced its role as Administrative Agent for a $148.2 million senior secured term loan to a special purpose vehicle majority owned by B. Riley Financial. This funding is intended to facilitate the acquisition of performing receivables from W.S. Badcock Corporation, a major home-furnishing retailer in the Southeastern U.S. Maturing in September 2027, this credit facility allows Badcock to monetize receivables, enhancing its liquidity for corporate purposes. The collaboration signifies a continued partnership among Pathlight, B. Riley, and Franchise Group, Inc. (NASDAQ: FRG).
B. Riley Financial has announced the acquisition of a second portfolio of performing receivables from W.S. Badcock Corporation, part of Franchise Group. This purchase, valued at approximately $168 million, involves the acquisition of $198 million in receivables, financed through a $148 million senior secured term loan. The prior acquisition in December 2021 was valued at $535 million for around $400 million. The CEO stated that this investment enhances relationships and aims to generate strong returns for shareholders.
The Vitamin Shoppe, a specialty retailer, has partnered with Warner Bros. Consumer Products to launch a new line of sports nutrition products under the BodyTech brand, inspired by DC Universe characters. Announced on October 17, 2022, the collaboration features flavors like Black Adam Black Cherry and Wonder Woman Sherbet, available across 700 stores and online. CEO Sharon Leite expressed excitement about merging fitness with iconic characters, aiming to attract fans and fitness enthusiasts alike. This venture positions BodyTech to capitalize on both health trends and fandom engagement.
Franchise Group, Inc. (NASDAQ: FRG) will release its fiscal 2022 third quarter financial results on November 3, 2022. A conference call will follow at 4:30 P.M. ET to discuss the results. Investors can access a real-time webcast on the company’s website. Franchise Group operates over 3,000 locations across various brands including Pet Supplies Plus and The Vitamin Shoppe, focusing on growing its portfolio and generating strong cash flow for shareholders. The company emphasizes the importance of its forward-looking statements regarding future performance.
The Vitamin Shoppe is launching its 'Snax for Vax' campaign, offering free protein bars and healthy snacks to anyone showing proof of a flu vaccine at over 700 store locations in the U.S. and Puerto Rico. The giveaway will take place from October 22 to October 23. Customers can select from popular items including protein brownies and vitamin bars. This initiative aims to promote health during flu season as experts warn of a potentially severe season. The Vitamin Shoppe previously incentivized COVID-19 vaccinations with a similar campaign in 2021.
Franchise Group, Inc. (NASDAQ: FRG) will attend several investor conferences in September 2022, including the Barrington Research Virtual Fall Investment Conference on September 8, Jefferies Home Retail Summit on September 13, and Raymond James Consumer Conference on September 15. The company operates over 3,000 locations across franchised brands like Pet Supplies Plus and The Vitamin Shoppe. Franchise Group aims to expand its portfolio while delivering strong cash flow for shareholders. For further inquiries, contact Andrew F. Kaminsky, EVP & Chief Administrative Officer.
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