Welcome to our dedicated page for Village Super Market news (Ticker: VLGEA), a resource for investors and traders seeking the latest updates and insights on Village Super Market stock.
Village Super Market, Inc. operates a chain of supermarkets across the United States, offering specialty departments like on-site bakeries, expanded delis, natural and organic foods, ethnic and international foods, prepared foods, and pharmacies. With 30 ShopRite supermarkets, 5 Fairway Markets, and 3 Gourmet Garage specialty markets, the company is a key player in the retail industry. Founded in 1937 and headquartered in Springfield, New Jersey, Village Super Market continues to deliver quality products and services to its customers.
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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