Village Super Market - VLGEA STOCK NEWS

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.

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 July 23, 2020, to shareholders of record at the close of business on July 2, 2020. Village Super Market operates a chain of 35 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, and operates three specialty markets under the Gourmet Garage name in New York City.

Village Super Market, Inc. (NASDAQ:VLGEA) reported a strong third quarter ending April 25, 2020, with net income rising 97% to $11.15 million, boosted by COVID-19-related demand. Sales increased 15.9% to $458.29 million, driven by a 13.6% rise in same-store sales. Despite incurring over $5.5 million in pandemic-related costs, the company's gross profit margin improved to 28.34%. However, net income for the 39 weeks decreased 8% compared to last year, reflecting challenges such as increased expenses and operational adjustments.