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.
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 July 23, 2020, to shareholders of record at the close of business on July 2, 2020. Village Super Market operates a chain of 35 supermarkets under the ShopRite and Fairway brands across New Jersey, Maryland, New York, and eastern Pennsylvania, and operates three specialty markets under the Gourmet Garage name in New York City.
Village Super Market, Inc. (NASDAQ:VLGEA) reported a strong third quarter ending April 25, 2020, with net income rising 97% to $11.15 million, boosted by COVID-19-related demand. Sales increased 15.9% to $458.29 million, driven by a 13.6% rise in same-store sales. Despite incurring over $5.5 million in pandemic-related costs, the company's gross profit margin improved to 28.34%. However, net income for the 39 weeks decreased 8% compared to last year, reflecting challenges such as increased expenses and operational adjustments.