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 the full repayment of a $70 million Acquisition Loan used for the purchase of The Vitamin Shoppe in December 2019. CEO Brian Kahn credited better-than-expected performance, cash management, and lender cooperation for retiring the remaining $31.6 million balance. This prepayment will enhance 2020 earnings per share by $0.03 and provide greater flexibility for future corporate actions. Franchise Group operates over 4,100 locations across franchises like Liberty Tax Service and The Vitamin Shoppe.
The Vitamin Shoppe announced the appointment of Muriel F. Gonzalez as Executive Vice President, Chief Merchandising and Marketing Officer, effective immediately. Gonzalez brings over 40 years of experience from previous senior roles at well-known retailers like Macy's and Estée Lauder. Her role will focus on merchandising, marketing, and brand development, aiming to reinvigorate The Vitamin Shoppe's retail strategies and enhance consumer experiences. The company operates 730 stores and offers a wide range of nutritional products, reflecting its commitment to health and wellness.
Franchise Group (NASDAQ: FRG) reported its Q2 2020 results, showing total revenue of $512.6 million and a GAAP net loss of $21.7 million or $0.62 per share. The company achieved a Proforma Adjusted EBITDA of $62.7 million and a Non-GAAP EPS of $0.53 per share. Despite pandemic challenges, Franchise Group's resilient business model allowed it to exceed expectations, leading to an increase in full-year guidance for Proforma Adjusted EBITDA to over $255 million and Non-GAAP EPS to exceed $2.70.
Franchise Group (NASDAQ: FRG) has announced that underwriters have exercised their full option to purchase an additional 630,000 shares in its recent public offering, yielding approximately $13.8 million in net proceeds. This brings the total shares sold to 4,830,000, with estimated net proceeds of about $106 million. The funds will be used for working capital and general corporate purposes. The offering closes on August 3, 2020, under an effective shelf registration statement filed with the SEC.
Franchise Group (NASDAQ: FRG) released preliminary Q2 2020 results, projecting consolidated revenue between $505 million and $515 million. Despite a GAAP net loss of $27 million to $24 million or $0.76 to $0.70 per share, Proforma Adjusted EBITDA is expected at $55 million to $65 million. American Freight reported revenues of $119 million, while The Vitamin Shoppe's revenues fell to $237.7 million. A conference call is set for August 6 to discuss detailed financial results.
Franchise Group, Inc. (NASDAQ: FRG) announced a public offering of 3,500,000 shares of its common stock, with underwriters having a 30-day option for an additional 15%. The offering is subject to market conditions, with no assurance on completion timing or terms. Proceeds will be used for working capital and general corporate purposes. B. Riley FBR, Inc. is the lead manager for the offering, which is made under an effective SEC shelf registration statement filed on January 31, 2020. This announcement does not constitute an offer or solicitation for the sale of securities.
Franchise Group (NASDAQ: FRG) reported strong Q1 results for 2020, exceeding revenue guidance. Total revenue reached $592.6 million with a GAAP net income of $61.9 million or $2.51 per share. Proforma Adjusted EBITDA was $112.2 million, and Non-GAAP EPS was $2.11 per share. The company ended Q1 with $147 million in cash and $811.5 million in outstanding debt. Franchise Group also increased its 2020 guidance, projecting revenue of $2.1 - $2.15 billion and raising Non-GAAP EPS guidance to at least $2.60 per share. The results reflect the company's resilient business model amidst Covid-19.
Franchise Group, Inc. (NASDAQ: FRG) will host a conference call on June 18, 2020, at 4:30 p.m. ET, to discuss its first quarter financial results and future outlook. The results will be published in a press release after market close on the same day. Investors can access the call via the company’s website or by telephone. Franchise Group operates over 4,100 locations across the U.S. and Canada, managing brands such as Liberty Tax Service and The Vitamin Shoppe. Forward-looking statements in the PR caution that actual results may differ from projections.
Franchise Group (NASDAQ: FRG) announced a quarterly cash dividend of $0.25 per share, payable on July 22, 2020, to stockholders of record by June 22, 2020. This initiative reflects the Company’s commitment to providing returns to its investors while continuing its operations within its franchises, which include Liberty Tax Service, Buddy’s Home Furnishings, American Freight, and The Vitamin Shoppe. The Company operates over 4,400 locations primarily in the U.S. and Canada.
Franchise Group (NASDAQ: FRG) has made significant strides in debt reduction related to its acquisition of The Vitamin Shoppe. Since the acquisition on December 16, 2019, the company has repaid or acquired over $22 million of its $70 million term loan. Recently, it announced an additional $12.5 million prepayment expected in Q3 2020, which will bring total reductions to over $42 million by year-end. Despite these repayments, the company assures shareholders that dividend payments remain unaffected, emphasizing its commitment to regular dividends based on operating performance.
