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, Inc. (NASDAQ: FRG) has announced the termination of negotiations to acquire Kohl's Corporation. The company expressed gratitude for the engagement with Kohl's management and its financing partners. Despite this setback, Franchise Group remains focused on exploring both internal and external opportunities to enhance shareholder value. The company operates a diverse portfolio of franchised businesses, including over 3,000 locations across the U.S., and continues to review strategies for growth.
The Vitamin Shoppe announced the first-ever National Creatine Day on July 9, 2022, celebrating the benefits of creatine as a leading sports nutrition supplement. This initiative aims to educate consumers on how creatine enhances strength and athletic performance. Sales of creatine products have surged, particularly among young adults and women. To mark the occasion, The Vitamin Shoppe will offer discounts on BodyTech creatine products from June 27 to July 10. This event reflects the growing demand for health supplements, driven by active lifestyles and social media exposure.
Franchise Group, Inc. (NASDAQ: FRG) has successfully completed the sale-leaseback of three W.S. Badcock Corporation distribution centers, generating approximately $150 million in gross proceeds from Oak Street Real Estate Capital. The proceeds will be used to retire the company's acquisition term loan. Additionally, Franchise Group anticipates completing the sale-leaseback of its corporate headquarters by the end of Q2 2022. The company operates a diverse portfolio of brands, including Pet Supplies Plus and The Vitamin Shoppe, with over 3,000 locations across the U.S.
Franchise Group, Inc. (NASDAQ: FRG) will participate in small group meetings at the Jefferies Consumer Conference in Nantucket, MA on June 21, 2022. The Company focuses on owning and operating a diverse portfolio of franchised businesses, including brands like Pet Supplies Plus and The Vitamin Shoppe. With over 3,000 locations across the U.S., Franchise Group aims to enhance cash flow for its shareholders through strategic capital allocation. Forward-looking statements caution that actual results may vary significantly from projections due to inherent risks and uncertainties.
Franchise Group (NASDAQ: FRG) announced a three-week exclusive negotiation period to acquire Kohl's Corporation for $60.00 per share in cash. If an agreement is reached, Franchise Group plans to invest approximately $1 billion, largely funded by increasing its secured debt facilities. This transaction aims to enhance Franchise Group’s free cash flow and profitability, potentially boosting dividends and shareholder returns. However, there is no guarantee any agreement will materialize.
Franchise Group, Inc. (NASDAQ: FRG) announced its participation in three upcoming investor conferences in June 2022. These include the Baird 2022 Global Consumer, Technology & Services Conference on June 6, the Stifel 2022 Cross Sector Insight Conference on June 8, and Oppenheimer's 22nd Annual Consumer Growth and E-Commerce Conference on June 14. Franchise Group operates over 3,000 locations across various brands, aiming to grow its portfolio and generate robust cash flow for shareholders.
Franchise Group (NASDAQ: FRG) will participate in the 22nd Annual B. Riley Securities Institutional Investor Conference on May 25, 2022, in Los Angeles, CA. This is an opportunity for institutional investors to meet with the Company's management. Franchise Group operates a diverse portfolio of brands, including Pet Supplies Plus, American Freight, and The Vitamin Shoppe, with over 3,000 locations in the U.S.
Investors can contact their B. Riley representative for meeting arrangements.
Franchise Group has approved a stock repurchase program allowing up to $500 million in shares to be bought back over the next three years. This decision is rooted in their strong financial performance and increased cash generation, indicating a commitment to enhancing long-term shareholder value while adhering to conservative financial policies. The program will facilitate stock repurchases in open markets or private transactions, with management deciding the timing and amount based on various factors. Franchise Group operates over 3,000 locations across its brands.
Franchise Group (NASDAQ: FRG) has declared a quarterly dividend of $0.46875 per share for its Series A Cumulative Perpetual Preferred stockholders. This cash dividend is set to be paid on July 15, 2022 for holders recorded by the close of business on July 1, 2022. The Company, operating over 3,000 locations across multiple brands including Pet Supplies Plus and The Vitamin Shoppe, aims to enhance cash flow for shareholders while expanding its portfolio.
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