Last $21.46 USD
Change Today +0.01 / 0.05%
Volume 9.7K
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As of 1:16 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

village super market-class a (VLGEA) Key Developments

Village Super Market, Inc. Declares Quarterly Dividend, Payable on July 24, 2014

The Board of Directors of Village Super Market Inc. declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. The dividends will be payable on July 24, 2014 to shareholders of record at the close of business on July 2, 2014.

Village Super Market Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended April 26, 2014; Provides Same Store Sales Guidance for the Fiscal 2014

Village Super Market Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended April 26, 2014. For the quarter, the company's sales were $372,511,000 compared with $359,808,000 a year ago. Sales increased due to the opening of the greater Morristown replacement store on November 6, 2013. Operating income was $6,397,000 compared with $8,150,000 a year ago. Income before income taxes was $6,140,000 compared with $7,910,000 a year ago. Net income was $3,188,000 or $0.23 per diluted share for Class A common stock and $0.17 per diluted share for Class B common stock compared with $4,622,000 or $0.33 per diluted share for Class A common stock and $0.25 per diluted share for Class B common stock a year ago. For the nine months, the company's sales were $1,121,798,000 compared with $1,100,134,000 a year ago. Sales increased due to the opening of the greater Morristown replacement store on November 6, 2013. Operating income was $18,503,000 compared with $33,070,000 a year ago. Income before income taxes was $17,838,000 compared with $33,702,000 a year ago. Net loss was $825,000 or $0.06 per diluted share for Class A common stock and $0.05 per diluted share for Class B common stock compared with net income of $19,581,000 or $1.40 per diluted share for Class A common stock and $1.01 per diluted share for Class B common stock a year ago. The company expects same store sales in fiscal 2014 to range from a decrease of 0.5% to an increase of 0.5%.

Village Super Market, Inc. Declares Quarterly Dividend, Payable on April 24, 2014

The Board of Directors of Village Super Market Inc. declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. The dividends will be payable on April 24, 2014 to shareholders of record at the close of business on April 3, 2014.

Village Super Market Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended January 25, 2014; Provides Same Store Sale Guidance for the Fiscal 2014

Village Super Market Inc. reported unaudited consolidated earnings results for the second quarter and six months ended January 25, 2014. For the quarter, the company’s net income was $2,818,000 compared to net income of $9,104,000 in the second quarter of the prior year. The second quarter of fiscal 2014 includes a charge for future lease obligations due to the closure of the Morris Plains store of $2,012,000 (net of tax), while the second quarter of the prior year includes income from a partnership distribution of $840,000 (net of tax). Excluding these two items, net income decreased 42% in the second quarter of fiscal 2014 compared to the prior year primarily due to flat same store sales, higher operating expenses as a percentage of sales and an increase in the income tax rate as a result of an unfavorable New Jersey Tax Court decision related to nexus that occurred in the first quarter of fiscal 2014. Sales were $392,241,000, an increase of 2.6% compared to $382,175,000 for the second quarter of the prior year. Sales increased due to the opening of a replacement store in Hanover Township, New Jersey on November 6, 2013 that serves the greater Morristown area and replaced the Morris Plains store. Same store sales were flat. Sales increased in both Maryland stores and in stores that were closed for periods up to eight days in the second quarter of the prior year due to superstorm Sandy. These increases were offset by decreased sales due to three store openings by competitors and reduced sales in stores that reopened quickly after Sandy in the prior year. Sales were also negatively impacted by a lack of inflation, reductions in overall SNAP benefits and the prior year including disaster SNAP benefits following Sandy. Sales continue to be impacted by economic weakness and high unemployment, as consumers continue to spend cautiously by trading down to lower priced items, including private label, and concentrating their buying on sale items. Diluted net income per Class A common stock is $0.20 compared to $0.65 a year ago. Basic and diluted net income per Class B common stock is $0.15 compared to $0.49 a year ago. For the six months, the company’s net loss was $4,012,000 compared to net income of $14,959,000 in the prior year. Fiscal 2014 includes a $10,052,000 charge to income tax expense as a result of the unfavorable ruling by the New Jersey Tax Court and a charge for future lease obligations due to the closure of the Morris Plains store of $2,012,000 (net of tax), while fiscal 2013 includes income from the national credit card lawsuit of $693,000 (net of tax), income from a partnership distribution of $840,000 (net of tax) and a charge for the settlement of a landlord dispute of $376,000 (net of tax). Excluding these items from both fiscal years, net income in the six-month period of fiscal 2014 declined 42% compared to the prior year primarily due to flat same store sales, lower gross profit percentages, higher operating expenses as a percentage of sales and an increase in the income tax rate as a result of the New Jersey Tax Court decision. Sales were $749,287,000 in the six-month period of fiscal 2014, an increase of 1.2% from $740,326,000 for the prior year. Same store sales decreased 0.2%. Diluted net loss per Class A common stock is $0.32 compared to diluted net income per Class A common stock of $1.07 a year ago. Basic and diluted net loss per Class B common stock is $0.21 compared to basic and diluted net income per Class A common stock of $0.75 a year ago. The company provided same store sale guidance for the fiscal 2014. The company expects same store sales in fiscal 2014 to range from a decrease of 0.5% to an increase of 1.0%.

Village Super Market, Inc. Declares Quarterly Dividend, Payable on January 23, 2014

The Board of Directors of Village Super Market Inc. declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. The dividends will be payable on January 23, 2014 to shareholders of record at the close of business on January 3, 2014.

 

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Valuation VLGEA Industry Range
Price/Earnings 42.6x
Price/Sales 0.2x
Price/Book 1.3x
Price/Cash Flow 11.3x
TEV/Sales 0.1x
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