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, Inc. (VLGEA) reported its fourth quarter results for the period ending July 31, 2021, showing a net income of $9.5 million, a 3% increase from the previous year. Adjusted net income surged 50% to $8.7 million, while same store sales saw a marginal increase of 0.1%. Fiscal 2021 net income dropped 20% to $20.0 million, influenced by pandemic-related disruptions in Manhattan. Sales reached $2.03 billion, up 2% due to an additional week in the fiscal year. Despite challenges, same store digital sales grew by 68% compared to fiscal 2020.
The Board of Directors of Village Super Market declared a quarterly cash dividend of $0.25 per Class A common share and $0.1625 per Class B common share. These dividends are payable on October 28, 2021, to shareholders on record as of October 7, 2021. Village Super Market operates 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, in addition to three specialty markets under the Gourmet Garage name in New York City.
On June 11, 2021, Village Super Market, Inc. (VLGEA) announced the declaration of quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. These dividends are scheduled to be paid on July 29, 2021, to shareholders on record by the close of business on July 8, 2021. The company operates 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, along with three specialty markets in New York City.
Village Super Market, Inc. (NASDAQ:VLGEA) reported its Q3 results for the period ending April 24, 2021, revealing a net income of $2,574,000, down from $11,152,000 the previous year. The decline is primarily due to the COVID-19 pandemic's impact on sales and increased operational costs. Total sales reached $481,093,000, a 5% increase attributed to the Fairway acquisition, although same-store sales dropped by 5.5%. Gross profit margins decreased to 27.73%, influenced by rising costs from integrating commissary operations. Operating expenses also rose to 25.18% of sales.
The Board of Directors of Village Super Market declared quarterly cash dividends of $0.25 for Class A common shares and $0.1625 for Class B common shares. These dividends are set to be paid on April 22, 2021, to shareholders on record as of April 1, 2021. Village Super Market operates a network of 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, in addition to three Gourmet Garage specialty markets in New York City.
Village Super Market reported strong Q2 results for the period ending January 23, 2021, with net income rising to $4,555,000, up from $2,005,000 the previous year. The increase is attributed to a 19.5% boost in sales, reaching $522,818,000, driven by same-store sales growth of 6.5% and the Fairway acquisition. Digital sales surged 176%, while gross profit margins improved slightly. Despite challenges in Manhattan locations due to the pandemic, the company saw an overall positive financial performance, with net income for the first half of the fiscal year up 15%.
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 are set to be paid on January 21, 2021 to shareholders who are on record by the close of business on December 31, 2020. Village Super Market operates 35 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, in addition to three specialty markets under the Gourmet Garage name in New York City.
Village Super Market (NASDAQ:VLGEA) reported strong Q1 results for the period ending October 24, 2020, with a net income of $3.36 million, up from $2.57 million in the same period last year. Despite this net income growth, it remained flat after accounting for previous year's pre-opening and closure costs. Sales surged 20.3% to $490.14 million, driven by the Fairway acquisition and a 6.6% increase in same-store sales. Digital sales soared 172%, reflecting changing consumer behavior during the pandemic. However, challenges in Manhattan locations and rising operating costs due to COVID-19 were highlighted.
Village Super Market reported a net income of $9,229,000 for Q4 of fiscal 2020, a rise from $6,729,000 in Q4 of 2019. This quarter's performance included a $1,911,000 gain from Superstorm Sandy insurance and a $2,512,000 benefit from a federal net operating loss carryback. Total sales for the quarter reached $501,478,000, influenced by the Fairway acquisition and a 7.5% same-store sales increase driven by pandemic-related demand. However, net income for the fiscal year dropped to $24,939,000 from $25,539,000 in 2019, indicating challenges despite overall sales growth.
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 are set to be payable on October 22, 2020, to shareholders recorded by the close of business on October 1, 2020. Village Super Market operates a chain of 35 supermarkets under the ShopRite and Fairway names across New Jersey, Maryland, New York, and eastern Pennsylvania, along with three specialty markets under the Gourmet Garage name in New York City.
FAQ
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What role does the Wakefern cooperative play for the company?
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