Welcome to our dedicated page for Village Super Mkt news (Ticker: VLGEA), a resource for investors and traders seeking the latest updates and insights on Village Super Mkt stock.
Overview
Village Super Market Inc is a well-established supermarket chain with a storied heritage dating back to 1937. Operating under well-recognized banners such as ShopRite and Fairway, the company has built a reputation for offering a broad array of specialty departments including on-site bakeries, expanded delicatessens, natural and organic foods, ethnic and international food selections, prepared foods, and pharmacies. As a member of the Wakefern Food Corporation cooperative, Village Super Market integrates community values with operational expertise, positioning itself as a significant player in the regional grocery retail space.
Business Model & Operations
The company operates a single segment focused on the retail sale of food and nonfood products. With an expanding network of supermarkets strategically located across New Jersey, New York, Maryland, and Pennsylvania, Village Super Market caters to a diverse customer base by delivering specialty products and an enhanced shopping experience. Its business model is supported by:
- Diversification of Offerings: In-store amenities such as bakeries, delicatessens, and large selections of organic and ethnic foods create a multi-dimensional shopping experience.
- Community-Focused Retail: The company has cultivated strong local ties, engaging directly with community stakeholders and adapting its product lines to suit regional preferences.
- Integration with a Cooperative Network: As a member of Wakefern, Village Super Market benefits from shared resources, broader brand recognition, and cooperative buying power, which help enhance its competitive edge in a challenging retail market.
Market Position & Industry Significance
Within the competitive landscape of the supermarket industry, Village Super Market Inc distinguishes itself through its tailored store formats and specialized departments that cater to evolving consumer trends towards organic, ethnic, and ready-to-eat foods. Its operations underscore the trend of supermarkets transforming into community hubs that extend beyond mere grocery shopping. The company has adeptly balanced traditional grocery retail with modern consumer demands, reflecting an operational model that combines local market insights with cooperative efficiency.
Core Competencies and Strategic Advantages
Village Super Market’s strategic strengths include:
- Specialty Departments: The emphasis on dedicated sections such as gourmet prepared foods, ethnic products, and natural/organic offers appeals to a broad demographic and supports higher customer satisfaction.
- Operational Expertise: Decades of experience in the competitive retail sector have fostered strong managerial and operational practices, resulting in consistent customer service and store presentation.
- Community Engagement: The company’s longstanding history in its core regions enables it to maintain deep connections with local consumers, enhancing loyalty through personalized services and community initiatives.
Understanding the Retail Cooperative Structure
As part of the Wakefern cooperative, Village Super Market benefits from a unique structure where decisions are made with both local insight and centralized support. This dual approach allows the company to leverage shared marketing, bulk purchasing, and a cohesive brand strategy while maintaining the flexibility needed to serve diverse local markets. By aligning local execution with collective resources, the company ensures financial robustness and operational resilience.
Frequently Asked Questions
The following sections address some common queries about the company, shedding light on its operational nuances and market positioning.
Village Super Market (NSD-VLGEA) has announced its quarterly dividend declaration. The company will pay $0.25 per Class A common share and $0.1625 per Class B common share, with payments scheduled for April 24, 2025. Shareholders must be on record by April 3, 2025 to receive the dividend.
The company currently operates 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, along with three specialty markets under the Gourmet Garage name in New York City.
Village Super Market (VLGEA) reported strong financial results for Q2 2025, with net income reaching $16.9 million, up 17% year-over-year. Sales increased 4.2% to $599.7 million, with same-store sales growing 2.3%. Digital sales showed impressive growth of 9%.
Year-to-date performance was equally robust, with net income of $29.7 million, up 14% from the prior year. Total sales reached $1.157 billion, a 4.1% increase, while same-store sales grew 2.4%. The company's growth was driven by digital sales expansion, performance of remodeled stores, higher pharmacy sales, and inflation in meat and dairy departments.
Gross profit margin slightly decreased to 28.35% in Q2, while operating expenses improved to 23.22% of sales. The company operates 34 supermarkets under ShopRite and Fairway banners across four states, plus three Gourmet Garage specialty markets in New York City.
Village Super Market (NSD-VLGEA) has announced its quarterly dividend declaration. The company will pay $0.25 per Class A common share and $0.1625 per Class B common share. The dividends will be distributed on January 23, 2025 to shareholders of record as of January 2, 2025. The company currently operates 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, along with three specialty markets under the Gourmet Garage name in New York City.
Village Super Market (VLGEA) reported strong Q1 FY2025 results with sales reaching $557.7 million, up 4.0% from $536.4 million in the prior year. The company achieved 2.4% same-store sales growth and an 8% increase in digital sales. Net income rose 11% to $12.8 million. Gross profit margin improved to 29.03% from 28.52%, driven by increased patronage dividends and reduced warehouse charges. Operating expenses increased to 24.66% of sales, primarily due to higher employee costs and digital sales fees. The company operates 34 ShopRite and Fairway supermarkets across four states, plus three Gourmet Garage specialty markets.
Village Super Market, Inc. (NSD-VLGEA) reported strong results for the fourth quarter ended July 27, 2024. Sales increased 4.4% to $578.2 million, with same-store sales up 2.7%. The company achieved net income of $15.4 million and adjusted net income of $16.9 million, a 10% increase from the previous year. Digital sales showed impressive growth, rising 12% on a same-store basis.
For the full fiscal year 2024, Village Super Market reported sales of $2.24 billion, a 3.2% increase, with same-store sales up 2.3%. The company's net income reached $50.5 million, with adjusted net income of $52.6 million, representing a 7% increase from the prior year. Gross profit margins improved, while operating expenses increased due to labor costs and digital sales growth.
Village Super Market (NSD-VLGEA) has announced significant leadership changes effective December 13, 2024. Robert Sumas will step down as CEO and interim Chairman but will remain as a Senior Advisor and Board member. The Board plans to appoint John J. Sumas as the new CEO and Nicholas Sumas as President and Chairman of the Board.
John J. Sumas, a Director since 2009 and Co-President since 2018, has held various roles including COO and General Counsel. Nicholas Sumas, also a Director since 2009 and Co-President since 2018, has served as CMO and Vice President. He is also an executive officer of Wakefern and a member of its Board.
The company also announced that it will reduce its Board of Directors from ten to nine members, following the passing of William Sumas on July 11, 2024. Village Super Market operates 34 ShopRite and Fairway supermarkets in four states and three Gourmet Garage specialty markets in New York City.
Village Super Market (NSD-VLGEA) has announced its quarterly dividend declaration. The Board of Directors approved a cash dividend of $0.25 per Class A common share and $0.1625 per Class B common share. These dividends will be paid on October 24, 2024, to shareholders of record as of October 3, 2024.
Village Super Market operates 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania. Additionally, the company manages three specialty markets under the Gourmet Garage name in New York City.
Village Super Market, Inc. (NASDAQ: VLGEA) announces the passing of William P. Sumas, Chairman of the Board, at age 77 on July 11, 2024. Mr. Sumas joined Village in 1960 and served as Chairman since 2017. He was also the longest-serving Chairman of the New Jersey Food Council from 2000-2007.
The Board of Directors praised Sumas as a visionary leader whose impact extended beyond Village Super Market and Wakefern. His leadership and innovative spirit were credited for Village's success and community connections. Robert Sumas, CEO and Vice Chairman, will serve as interim Chairman until a new Chair is appointed.
Village Super Market operates 34 ShopRite and Fairway supermarkets across four states, plus three Gourmet Garage specialty markets in New York City.
The Board of Directors of Village Super Market, ticker VLGEA, announced quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share.
The dividends will be payable on July 25, 2024, to shareholders recorded by July 4, 2024.
Village Super Market operates 34 supermarkets under the ShopRite and Fairway brands in New Jersey, Maryland, New York, and eastern Pennsylvania, along with three Gourmet Garage specialty markets in New York City.
Village Super Market (NASDAQ:VLGEA) reported its third quarter results for the period ending April 27, 2024. Sales increased by 3.2% to $546.4 million, with same store sales rising 2.3%. Digital sales saw a 9% growth. Net income was $9.0 million, while adjusted net income decreased by 6% to $9.6 million compared to the same period last year. The company opened a new 83,000 sq. ft. ShopRite store in Old Bridge, NJ, and closed a Gourmet Garage location in November 2023. Gross profit margin slightly decreased to 28.54%. Operating and administrative expenses rose to 25.19% due to higher labor costs and other expenses. For the fiscal year-to-date, sales increased by 2.8% to $1,658.3 million, with same store sales up by 2.2%. Net income for the year-to-date was $35.0 million, and adjusted net income was $35.7 million, a 6% increase from last year.
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