Welcome to our dedicated page for Village Super Mkt news (Ticker: VLGEA), a resource for investors and traders seeking the latest updates and insights on Village Super Mkt 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.
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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.
Village Super Market, Inc. (NASDAQ:VLGEA) reported a strong second quarter for fiscal 2023, with net income reaching $12.3 million, up 22% from the previous year. Sales increased 4.9% to $563.9 million, driven by a 3.2% increase in same store sales. In the first half of fiscal 2023, net income rose 34% to $23.4 million, with total sales at $1,083.6 million, reflecting a 5.0% increase. However, gross profit margins decreased slightly due to higher costs, with gross profit as a percentage of sales at 27.47% in Q2 and 28.07% for the first half. Operating expenses improved as a percentage of sales, primarily due to lower labor costs.
The Board of Directors of Village Super Market 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 January 26, 2023 to shareholders of record as of January 5, 2023. Village Super Market operates 34 supermarkets under ShopRite and Fairway names across New Jersey, Maryland, New York, and eastern Pennsylvania, along with four specialty markets under the Gourmet Garage name in New York City.
Village Super Market, Inc. (NASDAQ: VLGEA) reported a 51% increase in net income for the first quarter ending October 29, 2022, totaling $11.1 million, compared to $7.3 million in the same period last year. Total sales reached $519.7 million, up from $494.2 million, driven by 4.3% same-store sales growth and the opening of new stores. The gross profit margin improved to 28.73%, while operating expenses declined to 24.16% of sales.