Welcome to our dedicated page for Chefs' Warehouse news (Ticker: CHEF), a resource for investors and traders seeking the latest updates and insights on Chefs' Warehouse stock.
The Chefs’ Warehouse, Inc. distributes specialty food products in the United States, the Middle East and Canada, serving chefs and foodservice customers such as independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, cruise lines, casinos and specialty food stores.
Recurring company news covers quarterly results, sales volume, gross margin, adjusted EBITDA, organic growth, acquisitions, fiscal guidance and management presentations at consumer, retail and food-industry investor conferences. Updates also discuss the company’s specialty and center-of-the-plate categories, including imported and local products such as cheese, oils, chocolates, baking products, meats and other food items.
The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) announced a $75 million common stock purchase agreement with Jefferies LLC, which includes an over-allotment option of $11.25 million. The offering aims to enhance liquidity and will fund general corporate purposes like working capital, debt repayment, and investments in sales operations. The shares are offered under a shelf registration statement effective April 10, 2020. This press release clarifies that it is not an offer to sell or buy any shares and provides details on obtaining related documents from the SEC.
RIDGEFIELD, Conn., May 08, 2020 – The Chefs' Warehouse, a key specialty food distributor in the U.S., will present at the virtual BMO Global Farm to Market Conference on May 13, 2020, at 4:00 p.m. ET. Investors can access the presentation via the Company's investor relations website. With a portfolio of over 55,000 products, The Chefs' Warehouse caters to more than 34,000 customers, including restaurants, hotels, and culinary schools across the U.S. and Canada.
The Chefs’ Warehouse reported a 5.2% increase in net sales to $375.4 million in Q1 2020, up from $357.0 million in Q1 2019. However, the GAAP net loss was $14.1 million (or $(0.48) per diluted share), a decline from a net income of $1.1 million (or $0.04 per diluted share) in the prior year. Adjusted EBITDA was $(13.8) million, marking a significant decrease. The company suspended its 2020 guidance amid uncertainty from the COVID-19 pandemic.