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village super market-class b (VLGEB) Snapshot

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Average Volume 10 Days
0.0
EPS TTM
$1.21
Shares Outstanding
4.4M
EX-Date
04/1/14
P/E TM
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Dividend
$0.65
Dividend Yield
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Current Stock Chart for VILLAGE SUPER MARKET-CLASS B (VLGEB)

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village super market-class b (VLGEB) Details

Village Super Market, Inc., together with its subsidiaries, operates a chain of supermarkets in the United States. Its superstores feature specialty departments, such as home meal replacement, on-site bakery, and expanded delicatessen that includes prepared food, natural and organic foods, ethnic and international foods, and seafood sections, as well as pharmacies and salad bars. The company’s superstores also offer non-food items, including cut flowers, health and beauty aids, greeting cards, and small appliances. As of October 2, 2013, it operated 29 supermarkets, including 18 supermarkets in northern New Jersey, 8 supermarkets in southern New Jersey, 2 supermarkets in Maryland, and 1 supermarket in northeastern Pennsylvania under the ShopRite name. Village Super Market, Inc. was founded in 1933 and is based in Springfield, New Jersey.

1,573 Employees
Last Reported Date: 10/8/13
Founded in 1933

village super market-class b (VLGEB) Top Compensated Officers

Chairman, Chief Executive Officer, Chairman o...
Total Annual Compensation: $1.2M
President, Chief Operating Officer, Director,...
Total Annual Compensation: $997.7K
Chief Financial Officer, Treasurer and Direct...
Total Annual Compensation: $951.9K
Vice Chairman, Executive Vice President and M...
Total Annual Compensation: $891.9K
Executive Vice President, Director, Member of...
Total Annual Compensation: $887.9K
Compensation as of Fiscal Year 2013.

village super market-class b (VLGEB) Key Developments

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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Company Last Change
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VLGEB

Industry Average

Valuation VLGEB Industry Range
Price/Earnings 53.4x
Price/Sales 0.2x
Price/Book 1.5x
Price/Cash Flow 12.6x
TEV/Sales 0.1x
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