Franchise Group Inc - FRG STOCK NEWS

Franchise Group, Inc. (NASDAQ: FRG) announced the election of Nanhi Singh and Gary S. Rich to its Board of Directors. Singh will join the Audit Committee, while Rich will serve on the Compensation Committee. This expansion brings the Board to seven directors, six of whom are independent. Board Chairman Matthew Avril emphasized the importance of diverse skills for growth and overseeing the business. Franchise Group operates over 3,000 locations across various brands, focusing on cash flow generation for shareholders.

Bamboo Rose announced that The Vitamin Shoppe has implemented its Product Lifecycle Management (PLM) and Sourcing applications to enhance product development processes. The platform will digitize collaboration, improve data accuracy, and streamline specifications management for private brand supplement products. This integration aims to accelerate time to market and increase operational efficiency. With historical inspection data, The Vitamin Shoppe can ensure product quality. The Vitamin Shoppe, a subsidiary of Franchise Group (NASDAQ: FRG), is a leading specialty retailer in health and wellness solutions.

Franchise Group, Inc. (NASDAQ: FRG) reported first-quarter fiscal 2022 revenue of $1.1 billion and net income of $12.3 million, or $0.25 per share. The company anticipates a full-year revenue of approximately $4.45 billion and Adjusted EBITDA of $450 million. Cash on hand was around $149.6 million, with outstanding term debt of approximately $1.3 billion. Significant real estate sales from the Badcock portfolio are expected, which will reduce debt. The company remains optimistic about its diversified business model as it navigates fiscal challenges.

Franchise Group, Inc. (NASDAQ: FRG) will release its fiscal 2022 first quarter financial results on May 5, 2022. A conference call is scheduled for the same day at 4:30 P.M. ET to discuss the results. The call can be accessed via telephone or a live 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 generating strong cash flow through its franchising model.

Franchise Group has completed the sale-leaseback of 35 W.S. Badcock locations, generating approximately $94 million in gross proceeds. The company anticipates finalizing the sale of Badcock’s distribution centers and headquarters in the current fiscal quarter. The proceeds from these transactions will be utilized to repay the remaining $175 million in acquisition financing for Badcock. This move is aligned with Franchise Group's strategy to enhance cash flow and solidify its financial position.

Pet Supplies Plus, a subsidiary of Franchise Group, Inc. (NASDAQ: FRG), is expanding by adding 20 new stores over the next five years, primarily in Tennessee and Texas. The current franchise operators, with extensive experience, own 49 stores across six states. The new store openings will boost local employment, contributing to community engagement. The brand is recognized for its neighborhood feel and exceptional service, consistently ranking high in franchise performance. With over 600 locations nationwide, Pet Supplies Plus aims to enhance its market presence while focusing on customer satisfaction.

Franchise Group, Inc. (NASDAQ: FRG) has announced its participation in two upcoming investor conferences. On March 8, 2022, the company will attend the Raymond James 43rd Annual Institutional Investor Conference in Orlando, Florida. Additionally, on March 10, 2022, Franchise Group will engage in a virtual Consumer Growth Conference hosted by D.A. Davidson, featuring Chris Rowland, CEO of Pet Supplies Plus, in a fireside chat. Interested investors can schedule meetings with management through their respective conference representatives.

Pet Supplies Plus has acquired Wag N' Wash, a franchise specializing in natural pet food and grooming services, expanding its reach with over 600 stores across North America. Wag N' Wash operates 15 locations and will continue as a separate brand, enhancing both companies' product offerings. This acquisition provides mutual benefits, including improved purchasing power and resources, which will support further expansion and local market penetration. The deal is expected to strengthen both brands while maintaining distinct shopping experiences for customers.

Franchise Group (NASDAQ: FRG) reported fiscal Q4 2021 revenues of $942.3 million, with a net income of $151.8 million or $3.64 per diluted share. For the full year, total revenue was $3.3 billion, net income was $192 million or $4.48 per share. The company completed acquisitions of Sylvan Learning and W.S. Badcock, contributing $102.1 million in Q4 revenue. Franchise Group projects $4.45 billion in revenue for fiscal 2022, driven by new development agreements.