Village Super Mkt Inc - VLGEA STOCK NEWS

Village Super Market, Inc. (NASDAQ:VLGEA) reported a 5% increase in net income to $11.6 million for the first quarter ended October 28, 2023. Sales increased by 3.2% to $536.4 million, with same store sales up by 2.0%. Same store digital sales also saw a significant increase of 13%.

Village Super Market reports Q4 net income of $15.3 million, up 21% YoY, and FY2023 net income of $49.7 million, up 85% YoY. Same store sales increased 3.2% in Q4 and 3.5% in FY2023. Gross profit margin increased to 29.08% in Q4 and 28.45% in FY2023. Operating expense as a percentage of sales increased to 23.92% in Q4 but decreased to 23.86% in FY2023. Depreciation and amortization expense increased. Interest expense increased. Effective income tax rate increased to 32.7% in Q4 and 31.6% in FY2023.

Village Super Market declares quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share.

Village Super Market reports Q3 2023 results with net income of $11.0 million, a 93% increase YoY. Sales increased 5.4% and same store sales increased 3.4%. Year-to-date net income increased 142% to $34.4 million. Gross profit as a percentage of sales increased to 28.57%. Operating and administrative expense as a percentage of sales decreased to 24.33%. Village Super Market operates 34 supermarkets and four specialty markets.

The Board of Directors of Village Super Market has declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. These dividends will be payable on April 27, 2023, to shareholders of record as of April 6, 2023. Village Super Market operates 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, along with four specialty markets named Gourmet Garage in New York City.

Village Super Market, Inc. (NASDAQ:VLGEA) reported a strong second quarter for fiscal 2023, with net income reaching $12.3 million, up 22% from the previous year. Sales increased 4.9% to $563.9 million, driven by a 3.2% increase in same store sales. In the first half of fiscal 2023, net income rose 34% to $23.4 million, with total sales at $1,083.6 million, reflecting a 5.0% increase. However, gross profit margins decreased slightly due to higher costs, with gross profit as a percentage of sales at 27.47% in Q2 and 28.07% for the first half. Operating expenses improved as a percentage of sales, primarily due to lower labor costs.

The Board of Directors of Village Super Market declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. These dividends will be payable on January 26, 2023 to shareholders of record as of January 5, 2023. Village Super Market operates 34 supermarkets under ShopRite and Fairway names across New Jersey, Maryland, New York, and eastern Pennsylvania, along with four specialty markets under the Gourmet Garage name in New York City.

Village Super Market, Inc. (NASDAQ: VLGEA) reported a 51% increase in net income for the first quarter ending October 29, 2022, totaling $11.1 million, compared to $7.3 million in the same period last year. Total sales reached $519.7 million, up from $494.2 million, driven by 4.3% same-store sales growth and the opening of new stores. The gross profit margin improved to 28.73%, while operating expenses declined to 24.16% of sales.