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.
Adyen has partnered with Pet Supplies Plus to enhance its payment solutions across approximately 230 corporate and 400 franchise locations in the U.S. This collaboration will implement Adyen's unified commerce platform, which includes a diverse terminal offering and real-time reporting tailored for franchise management. Pet Supplies Plus has praised Adyen for a seamless onboarding experience and the ability to integrate easily with its growth plans. The partnership emphasizes Adyen's commitment to supporting the retail sector through data-driven insights and a cohesive multi-channel experience.
The Vitamin Shoppe has partnered with TRC Healthcare to enhance consumer access to evidence-based information on dietary supplements through the Natural Medicines database. This collaboration comes amid rising interest in supplements, with over half of American adults reportedly consuming them. Health Enthusiast associates at more than 700 locations will utilize the database to provide credible advice, ensuring that clients make informed choices without influence from marketing. The partnership emphasizes transparency and aims to protect consumer health by offering reliable research-backed guidance.
Franchise Group reported Q2 2022 revenue of $1.1 billion, with a net income of $41 million or $0.94 per diluted share. Adjusted EBITDA was $103.4 million. As of June 25, 2022, cash on hand stood at $95 million, with term debt of $1.1 billion. The company updated its full-year guidance, lowering revenue expectations to $4.3 billion from $4.45 billion and Adjusted EBITDA to $390 million from $450 million. CEO Brian Kahn highlighted resilience in diversification despite challenges in home furnishings.
Franchise Group, Inc. (NASDAQ: FRG) has announced a quarterly cash dividend of $0.625 per share for its common stockholders. The dividend will be distributed on or about October 14, 2022 to shareholders on record by the close of business on September 30, 2022. Franchise Group operates over 3,000 locations primarily in the U.S., focusing on franchised and franchisable businesses across various sectors, including retail and services.
Franchise Group, Inc. (NASDAQ: FRG) declared a quarterly dividend of $0.46875 per share for its Series A Cumulative Perpetual Preferred stockholders. This dividend will be payable on October 14, 2022, to shareholders on record as of September 30, 2022. Franchise Group operates over 3,000 locations across various brands, including Pet Supplies Plus and The Vitamin Shoppe, focusing on strong cash flow generation for shareholders.
The Vitamin Shoppe has partnered with Follett Higher Education Group to provide health and wellness products at college bookstores in the U.S. Starting August 2022, students can access vitamins, protein powders, and supplements at select Follett locations and online. This partnership aims to meet the growing demand for health solutions among college students, promoting physical and emotional well-being. Follett operates over 1,100 college stores, making this collaboration a strategic move to enhance student access to high-quality nutritional products.
Franchise Group (NASDAQ: FRG) announced the release of its fiscal 2022 second quarter financial results scheduled for August 4, 2022. The company will hold a conference call at 4:30 PM ET on the same day to discuss its financial performance. Franchise Group operates over 3,000 locations across various brands, including Pet Supplies Plus and The Vitamin Shoppe, focusing on generating strong cash flow for shareholders. The press release also includes forward-looking statements regarding future performance and associated risks.
FlexIt has partnered with The Vitamin Shoppe's Healthy Awards® loyalty program to offer members personalized access to various fitness professionals and wellness solutions. This collaboration aims to enhance the health and wellness experience for The Vitamin Shoppe's millions of members. FlexIt will provide live, tailored training sessions focused on individual health goals, with training modalities ranging from nutrition to physical therapy. The initiative is supported by ISSA, enhancing the network of fitness experts available to users.
Franchise Group, Inc. (NASDAQ: FRG) announced its participation in the CJS Securities 22nd Annual New Ideas Summer Conference on July 12, 2022, in Greenwich, CT. The Company operates a diverse portfolio of franchised and franchisable businesses, including Pet Supplies Plus, American Freight, and The Vitamin Shoppe, with over 3,000 locations mainly in the U.S. Franchise Group aims to enhance cash flow and expand its brand portfolio. Forward-looking statements in the release indicate potential future results, which are subject to various risks and uncertainties.
Ladder, founded by LeBron James and Arnold Schwarzenegger, has launched its sports nutrition products in over 690 locations of The Vitamin Shoppe, marking its retail debut. Previously available online, this partnership aims to enhance product accessibility. All Ladder products are NSF Certified for Sport®, ensuring high quality and safety. The offerings include Pre-Workout, Whey Protein, Plant Protein, and Hydration supplements. CEO Sharon Leite emphasized the commitment to providing innovative products to support wellness journeys.
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