Heading Higher? Franchise Group, Inc. (NASDAQ:FRG) Vitamin Shoppe Starts Franchising.

Franchise Group, Inc. (NASDAQ:FRG) s on the move today.

Franchise Group, Inc. (NASDAQ:FRG) the Vitamin Shoppe to Expand at Retail with Franchise Stores.

·       The Vitamin Shoppe, an omni-channel specialty retailer of nutritional products, today announced the launch of an innovative franchising model for independent operators to open The Vitamin Shoppe stores in their own communities around the United States. This is the first time in its 44-year history that The Vitamin Shoppe will partner with business owners to operate franchise stores.

·       The company announced that its shareholders elected Lisa Fairfax and Cynthia Dubin to its Board of Directors (“Board”). Ms. Fairfax will serve as the Chair of the Nominating & Corporate Governance Committee of the Board. 

·       The company announced that its Board of Directors approved a quarterly dividend to common stockholders of $0.375 per share. 

·       Franchise Group, Inc. (NASDAQ: FRG) today announced the financial results of its fiscal 2021 first quarter. For the first quarter of fiscal 2021, total reported revenue for Franchise Group was $621.3 million, net loss from continuing operations was $(28.3) million or $(0.76) per share.

·       Franchise Group is increasing its Adjusted EBITDA guidance from over $310 million to over $315 million and Non-GAAP EPS guidance from at least $3.25 to at least $3.35 while maintaining its prior guidance of revenue of $3.0 – $3.1 billion. 

Market Action

As of 12:40PM Franchise Group, Inc. saw a rise of 1.38% opening the stock at  $37.50.

The stock moved within a range of 37.25 – 37.81. On Thursday 51,476 shares traded hands compared to its average volume of 165,745 shares. Past 52 weeks the stock moved within a range of 15.60 – 41.50. Stock was up 3.93% last week.

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