Chefs' Warehouse Stock Price, News & Analysis

The Chefs’ Warehouse has announced a private placement of $50 million in convertible senior notes due 2024, part of an existing series of $150 million in notes issued in 2019. The funds will primarily be used to repay existing loans and support working capital, with potential for future acquisitions. The notes will pay semiannual interest and are convertible into common stock. The offering is subject to market conditions and is not registered under the Securities Act.

The Chefs’ Warehouse reported a 34% drop in Q4 2020 net sales to $281.7 million, compared to $426.5 million in Q4 2019. However, sequentially, sales increased by 10.9% from the previous quarter. The net loss was $37.1 million or $(1.02) per diluted share, a sharp decline from net income of $10.9 million in Q4 2019. Adjusted EBITDA stood at $(10.5 million) vs. $28.2 million the previous year. The company has about $193.6 million in cash and plans no guidance for 2021 due to ongoing uncertainties related to COVID-19.

The Chefs' Warehouse (NASDAQ: CHEF) is transitioning its Northern California offerings from Del Monte Capital Meat Company, Bassian Farms, and Ports Seafood to the Allen Brothers brand starting Q2 2021. This strategic move aims to enhance growth in the region by providing access to Allen Brothers' premium fine meat and seafood products, known for their quality and appeal among top chefs. Established in 1893, Allen Brothers has a long-standing reputation for delivering high-quality products to prestigious restaurants.

The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) announced the upcoming release of its financial results for Q4 and fiscal year ending December 25, 2020, scheduled for February 10, 2021, before market opening. A conference call will follow at 8:30 a.m. ET the same day to review these results, which will be available via a live webcast on the company's investor relations website. An online archive of the call will remain accessible for 30 days.

RIDGEFIELD, Conn., Dec. 29, 2020 – The Chefs’ Warehouse (NASDAQ: CHEF) will present at the 2021 ICR Conference on January 13, 2021, at 12:30 p.m. ET. This virtual event will allow investors and interested parties to access a webcast through the Company’s investor relations website.

The Chefs’ Warehouse is a leading distributor of specialty food products in the U.S. and Canada, focusing on the needs of chefs in restaurants, hotels, and other culinary establishments.

The Chefs' Warehouse (NASDAQ:CHEF) announced the election of Aylwin Lewis and Ivy Brown to its Board of Directors, effective January 1, 2021. Lewis brings extensive experience from his tenure at Potbelly Corporation and Sears Holdings, while Brown, a former UPS executive, offers strong credentials in operations and finance. Their addition aims to bolster the company’s strategic direction during the ongoing pandemic. The Board expects their expertise will support Chefs' Warehouse in navigating challenges and leveraging growth opportunities.

The Chefs' Warehouse reported a third quarter net loss of $11.4 million, or $(0.31) per diluted share, a decline from net income of $4.4 million in Q3 2019. Net sales fell by 36.0% to $254 million year-on-year, with a 44.9% decline in organic revenue. However, on a sequential basis, net sales improved by 26.7% or $53.5 million from Q2 2020. Adjusted EBITDA was $(4.9) million, down from $21.6 million a year earlier. The company held $193 million in cash, while full-year guidance was not provided due to ongoing market uncertainties.

The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) will announce its financial results for the third quarter ended September 25, 2020, before market opens on October 28, 2020. A conference call will follow at 8:30 a.m. ET on the same day to discuss the results. The call will be available for live streaming on the Company’s investor relations website, with an archive accessible for 30 days.

Chefs’ Warehouse is a leading distributor of specialty food products in the U.S. and Canada catering to chefs in various culinary sectors.

The Chefs' Warehouse, Inc. (NASDAQ:CHEF) has announced the acquisition of selected assets from Harris Seafood LLC, based in Orlando, Florida, aimed at accelerating seafood category growth in the Southeast. CEO Christopher Pappas expressed excitement about leveraging Harris Seafood's local relationships to enhance seafood quality. The acquisition aligns with the company's focus on high-quality food distribution across North America, supporting their commitment to chefs and culinary excellence.