Welcome to our dedicated page for Franchise Group news (Ticker: FRG), a resource for investors and traders seeking the latest updates and insights on Franchise Group stock.
Franchise Group, Inc. (NASDAQ: FRG) operates a dynamic portfolio of consumer-focused franchises including Liberty Tax and The Vitamin Shoppe. This news hub provides investors and business professionals with essential updates on FRG's strategic initiatives across retail, tax services, and wellness sectors.
Access real-time updates on earnings reports, acquisition strategies, and brand expansions like PHOCUS beverages. Our curated news collection simplifies tracking FRG's operational milestones, including partnerships with industry leaders and franchise network developments.
Key coverage areas include financial performance, subsidiary updates, product launches, and leadership changes. Discover how FRG leverages brands like Gorilla Mind and BodyTech® to maintain market leadership in specialty retail and franchising.
Bookmark this page for streamlined access to verified FRG announcements. Check regularly for insights into the company's growth through strategic franchising and consumer trend adaptation.
Franchise Group (NASDAQ: FRG) announced a public offering of its 7.50% Series A Cumulative Perpetual Preferred Stock, aiming to raise capital for general corporate purposes, including future acquisitions. This offering is a reopening of its original issuance from September 2020 and will consolidate with existing shares, all trading under the symbol FRGAP. Dividends of $1.875 annually will be payable quarterly starting April 15, 2021. Several firms, including B. Riley Securities and Incapital, are managing the offering, which relies on an effective shelf registration statement filed with the SEC.
Franchise Group (NASDAQ: FRG) announced its participation in two virtual conferences: the 23rd Annual ICR Conference from January 11-13, and the CJS Securities 21st Annual New Ideas for the New Year Conference on January 13. CEO Brian Kahn and EVP Andrew Kaminsky will engage in small group meetings at both events. Franchise Group operates over 4,000 locations in the U.S. and Canada, focusing on franchised and franchisable businesses, including Liberty Tax Service and The Vitamin Shoppe, aiming to generate strong cash flow for shareholders.
The Vitamin Shoppe announced its partnership with WW International, Inc. to enhance health and wellness offerings. This collaboration includes co-branded nutritional supplements and WW membership sales in over 715 retail locations. Key products like WW by the Vitamin Shoppe Daily Essentials and WW by the Vitamin Shoppe Daily Essentials + Heart Health are priced at $29.99 and $46.99, respectively. This initiative aims to support Americans seeking wellness guidance, highlighted by a study showing 63% of individuals desire assistance in achieving their health goals for 2021.
Franchise Group has completed the acquisition of FFO Home, a furniture and mattress retailer, rebranding over 30 stores in the Midwest to American Freight. This move aims to expand American Freight's market presence while preserving local jobs. The rebranded stores will offer a broader range of products, including appliances, and maintain operations during the conversion. Customers can expect affordable pricing and same-day delivery on in-stock items. A Grand Reopening is anticipated in Q1 2021.
Franchise Group, Inc. (NASDAQ: FRG) announced a quarterly dividend of $0.46875 per share for its Series A Cumulative Perpetual Preferred stockholders. This cash dividend will be paid on January 15, 2021, to those on record as of the close of business on December 31, 2020. With over 4,000 locations across the U.S. and Canada, Franchise Group manages various brands, including Liberty Tax Service and The Vitamin Shoppe, aiming for strong cash flow to benefit shareholders.
Franchise Group announced a 50% increase in its quarterly dividend, now set at $0.375 per share. This change reflects the company's strong cash flow and positive momentum heading into 2021. The dividend will be paid to shareholders on or about January 8, 2021, with a record date of December 24, 2020. CEO Brian Kahn emphasized the company's aim to distribute 25% of Adjusted EBITDA to shareholders. Franchise Group operates over 4,000 locations across various brands, demonstrating a robust operational footprint.
The Vitamin Shoppe, based in Secaucus, NJ, has launched its first proprietary CBD products under the plnt and Vthrive brands, responding to rising consumer demand for quality CBD. The offerings include tinctures and capsules available exclusively at Vitamin Shoppe locations and online, priced from $24.99 to $69.99. The products feature three potency tiers and are backed by rigorous quality assurance standards. This launch marks a significant milestone in the company's private brand expansion and aims to position The Vitamin Shoppe as a leader in CBD innovation.
Franchise Group (NASDAQ: FRG) has refranchised 47 Buddy's locations to bebe stores for $35 million, which will be used to pay down debt. This transaction is expected to reduce the company’s annual revenue by approximately $35 million and Adjusted EBITDA by about $6 million, excluding future openings by the franchisee. CEO Brian Kahn emphasized that this deal allows Franchise Group to de-lever its balance sheet while simultaneously facilitating brand growth. The company operates over 4,000 locations, focusing on increasing its portfolio of franchised businesses.
Franchise Group, Inc. (NASDAQ: FRG) has announced the acquisition of FFO Home, a furniture retailer with 31 stores across several states, as part of a Chapter 11 bankruptcy process. The transaction, expected to close by the end of 2020, will allow FFO to continue operations while receiving financial support from Franchise Group through a debtor-in-possession loan. This acquisition aims to enhance Franchise Group's footprint and integrate FFO's operations with American Freight.
Franchise Group (NASDAQ: FRG) reported a third-quarter revenue of $551 million, with a net loss of $8.6 million ($0.22 per share) and an Adjusted EBITDA of $50 million. The company generated strong comparable same-store sales growth: 15% at American Freight, 14.7% at Buddy's, and 8.6% at The Vitamin Shoppe. Franchise Group reduced its outstanding debt by $111.9 million, including retiring a $70 million term loan. For fiscal 2020, the company maintains its revenue guidance of $2.10 - $2.15 billion and expects Adjusted EBITDA to exceed $232 million.
