Welcome to our dedicated page for Village Super Market news (Ticker: VLGEA), a resource for investors and traders seeking the latest updates and insights on Village Super Market stock.
Village Super Market reports recurring developments tied to its regional grocery-store operations under the ShopRite, Fairway and Gourmet Garage names. The company operates supermarkets in New Jersey, New York, Maryland and Pennsylvania, including specialty markets in New York City, and participates in the Wakefern Food Corporation cooperative system.
Company news commonly covers quarterly and annual operating results, sales and same-store sales trends, digital sales, gross margin factors, promotional activity, Wakefern patronage dividends and rebates, store investment, and quarterly cash dividends on Class A and Class B common shares.
Village Super Market (NASDAQ:VLGEA) reported its third quarter results for the period ending April 27, 2024. Sales increased by 3.2% to $546.4 million, with same store sales rising 2.3%. Digital sales saw a 9% growth. Net income was $9.0 million, while adjusted net income decreased by 6% to $9.6 million compared to the same period last year. The company opened a new 83,000 sq. ft. ShopRite store in Old Bridge, NJ, and closed a Gourmet Garage location in November 2023. Gross profit margin slightly decreased to 28.54%. Operating and administrative expenses rose to 25.19% due to higher labor costs and other expenses. For the fiscal year-to-date, sales increased by 2.8% to $1,658.3 million, with same store sales up by 2.2%. Net income for the year-to-date was $35.0 million, and adjusted net income was $35.7 million, a 6% increase from last year.
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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 April 27, 2023, to shareholders of record as of April 6, 2023. Village Super Market operates 34 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, along with four specialty markets named Gourmet Garage in New York City.