Village Super Market, Inc. (VLGEA): history, ownership, mission, how it works & makes money

A Brief History of Village Super Market, Inc. (VLGEA)

Founding and Early Years

Village Super Market, Inc. was established in 1937 in Springfield, New Jersey, by the Fischer family. Initially, the company operated a single grocery store, focusing on providing high-quality products and exceptional customer service.

Corporate Structure and Growth

In 1993, Village Super Market, Inc. became a publicly traded company, trading under the ticker symbol VLGEA on the NASDAQ. The company operates under the brand names ShopRite and Fischer's.

Acquisitions and Expansion

The company expanded through a series of acquisitions, adding multiple grocery stores to its chain. Significant acquisitions include:

• Acquisition of a store in 1999 in New Jersey
• Purchase of several locations in the early 2000s
• Acquisition of stores in 2010 and 2011, enhancing its footprint in the tri-state area

Financial Performance

As of fiscal year 2023, Village Super Market, Inc. reported the following financial statistics:

Community Involvement

Village Super Market, Inc. is known for its strong community involvement, contributing to various local charities and initiatives. The company has donated over $1 million to community programs since 2020.

Sustainability Practices

The company has implemented sustainability practices, including:

• Reduction of plastic bag usage
• Energy-efficient lighting in stores
• Commitment to reducing food waste

Current Market Position

As of October 2023, Village Super Market, Inc. operates over 30 locations in New Jersey and surrounding areas, maintaining a significant market share in the grocery sector.

Stock Performance

Village Super Market, Inc. shares have demonstrated steady performance, with a closing price of approximately $24.50 as of October 20, 2023.

A Who Owns Village Super Market, Inc. (VLGEA)

Ownership Structure

The ownership of Village Super Market, Inc. is characterized by a mix of family control and public ownership. As of the latest data, the terms of ownership are laid out as follows:

Key Shareholders

The Robinson family has maintained a significant influence over the company's operations and strategic decisions. Key members include:

• Ralph Robinson
• John Robinson
• Linda Robinson

Financial Performance

As of the most recent fiscal year, Village Super Market, Inc. reported the following financial figures:

Stock Performance

The common stock of Village Super Market, Inc. has experienced the following metrics:

Regulatory Filings

Village Super Market, Inc. is publicly traded on the NASDAQ under the ticker symbol VLGEA, and is subject to regulatory filings with the SEC. Key documents include:

• Annual Reports (10-K)
• Quarterly Reports (10-Q)
• Current Reports (8-K)

Recent Developments

Recent strategic initiatives include:

• Expansion into new markets
• Investment in technology and online sales
• Partnerships with local suppliers

Summary of Ownership Dynamics

The ownership dynamics of Village Super Market, Inc. reveal a strong family-held influence alongside public participation, with continued focus on growth avenues.

Village Super Market, Inc. (VLGEA) Mission Statement

Company Overview

Village Super Market, Inc. operates under the ShopRite banner, primarily focused on grocery store retailing. The company is publicly traded and is known for its emphasis on community engagement, customer service, and quality products.

Mission Statement

The mission statement of Village Super Market, Inc. emphasizes its commitment to providing high-quality products and exceptional customer service while supporting local communities. The specific wording of the mission statement includes: "We strive to provide the best food shopping experience in our communities by focusing on quality, service, and value."

Core Values

• Customer Service
• Quality Products
• Community Engagement
• Value

Financial Performance

As of the latest fiscal year ending July 30, 2023, Village Super Market, Inc. reported the following financial statistics:

Community Engagement

Village Super Market is actively involved in various community programs, contributing both financially and through volunteer efforts. In 2022, the company donated approximately:

Strategic Goals

To further enhance its mission statement, Village Super Market has outlined strategic goals for the upcoming years:

• Increase market share by 5% by 2025.
• Enhance customer satisfaction ratings to 90% or higher.
• Expand product offerings in the organic and local product sectors.
• Implement new technology for supply chain efficiency.

Employee Commitment

The company places a strong emphasis on employee satisfaction as part of its mission. Recent employee survey results showed:

How Village Super Market, Inc. (VLGEA) Works

Company Overview

Village Super Market, Inc. operates as a supermarket chain primarily in New Jersey. As of October 2023, the company manages 35 ShopRite supermarkets and is a member of the Wakefern Food Corporation cooperative. The company was founded in 1937 and has since established a strong presence in the grocery market.

Financial Performance

For the fiscal year ending July 29, 2023, Village Super Market reported the following financial metrics:

Operations and Supply Chain

Village Super Market focuses on offering a diverse product range, including fresh produce, groceries, bakery items, and prepared meals. The supply chain operations leverage its relationship with Wakefern to maintain competitive pricing and a steady supply of products.

• Annual grocery sales growth: 4.2% in 2023
• Number of employees: Approximately 3,000
• Inventory turnover ratio: 12.8

Market Position

As of the latest available data, Village Super Market holds a significant market share in the New Jersey grocery retail sector. Its competitive advantages include:

• Store locations: 35
• Membership in the Wakefern cooperative gives access to a wider array of products and advertising resources.
• Customer loyalty programs that enhance shopper retention.

Recent Developments

In August 2023, Village Super Market announced a $5 million investment into upgrading its technology infrastructure to improve customer experience and streamline operations. The initiatives include:

• Enhancing e-commerce capabilities
• Implementing advanced inventory management systems

Community Engagement

Village Super Market actively engages in community service initiatives, contributing to local food banks and sponsoring community events. The company has pledged approximately $1 million annually towards various community programs.

How Village Super Market, Inc. (VLGEA) Makes Money

Retail Grocery Sales

Village Super Market, Inc. generates the majority of its revenue through retail grocery sales. In 2022, the company reported net sales of approximately $508.5 million.

Store Format and Locations

The company operates under several store formats, including:

• ShopRite
• Other grocery formats

As of fiscal year 2023, the company operated 35 stores in New Jersey and New York.

Product Segmentation

Sales are segmented into various product categories:

Private Label Products

Private label products contribute significantly to profit margins. These account for around 23% of the total sales, leading to higher margins compared to branded products. Revenue from private label products was approximately $117 million in 2022.

Digital and Online Sales Growth

Online sales have seen a substantial increase, with the segment growing by 25% year-over-year. In 2022, online revenue reached around $50 million.

Cost of Goods Sold (COGS)

The cost of goods sold for the company in fiscal year 2022 was approximately $397 million, leading to a gross profit of about $111.5 million.

Operating Expenses

Operating expenses, including salaries, rent, and marketing, amounted to around $93 million in 2022. This demonstrates the high overhead associated with retail operations.

Store Development and Capital Expenditures

In an effort to expand their market presence, Village Super Market, Inc. invested $10 million in new store development and renovations in 2022.

Dividends and Shareholder Returns

The company has a history of returning value to shareholders. In 2022, it declared a cash dividend of $0.30 per share, amounting to a total distribution of approximately $1.2 million.

Cash Flow and Liquidity

As of the end of fiscal year 2022, the company reported cash and cash equivalents totaling $15 million, reflecting solid liquidity to support ongoing operations and future investments.

Future Outlook

Village Super Market anticipates a revenue growth of approximately 4-6% annually over the next few years, driven by expansion into new markets and continued improvement in online sales channels.