Village Super Market Inc. Files 10-Q for Period Ending January 27, 2024

TL;DR

<b>Village Super Market Inc. filed its Q2 2024 10-Q report on March 6, 2024.</b>

AI Summary

VILLAGE SUPER MARKET INC (VLGEA) filed a Quarterly Report (10-Q) with the SEC on March 6, 2024. Village Super Market Inc. filed a 10-Q report for the period ending January 27, 2024. The filing covers the second quarter of their fiscal year. The company's fiscal year ends on July 27th. The filing was made on March 6, 2024. The company is classified under SIC code 5411 for Grocery Stores.

Why It Matters

For investors and stakeholders tracking VILLAGE SUPER MARKET INC, this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and position for the second quarter of fiscal year 2024. It allows stakeholders to assess the company's operational results, balance sheet, and cash flows during the specified period.

Risk Assessment

Risk Level: — VILLAGE SUPER MARKET INC shows moderate risk based on this filing. The filing is a routine quarterly report (10-Q) and does not contain any immediately apparent significant new risks or material adverse events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 2024-01-27 — Period End Date (Fiscal Quarter End)
• 2024-03-06 — Filing Date (Date of Report Submission)
• 0727 — Fiscal Year End (Annual Fiscal Year Close)

Key Players & Entities

• VILLAGE SUPER MARKET INC (company) — Filer
• 2024-01-27 (date) — Period of Report
• 2024-03-06 (date) — Filed as of date
• 5411 (other) — Standard Industrial Classification
• NJ (location) — State of Incorporation
• 0727 (date) — Fiscal Year End

FAQ

Industry Context

Village Super Market Inc. operates in the grocery store retail sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business trends and strategies.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Year-Over-Year Comparison

This is the 10-Q filing for the second quarter of fiscal year 2024, following previous filings for earlier periods.

Filing Documents

• vlgea-20240127.htm (10-Q) — 766KB
• a11114villagesupermarket.htm (EX-10.1) — 1KB
• a11115villagesupermarket.htm (EX-10.2) — 1KB
• a11116villagesupermarket.htm (EX-10.3) — 1KB
• a11117villagesupermarket.htm (EX-10.4) — 1KB
• a11118villagesupermarket.htm (EX-10.5) — 1KB
• a11119villagesupermarket.htm (EX-10.6) — 1KB
• vlgea20240127ex-311.htm (EX-31.1) — 15KB
• vlgea20240127ex-312.htm (EX-31.2) — 16KB
• vlgea20240127ex-321.htm (EX-32.1) — 6KB
• vlgea20240127ex-322.htm (EX-32.2) — 6KB
• vlgea2024012710-qexhibit991.htm (EX-99.1) — 73KB
• a11114villagesupermarket001.jpg (GRAPHIC) — 266KB
• a11114villagesupermarket002.jpg (GRAPHIC) — 258KB
• a11114villagesupermarket003.jpg (GRAPHIC) — 52KB
• a11115villagesupermarket001.jpg (GRAPHIC) — 263KB
• a11115villagesupermarket002.jpg (GRAPHIC) — 259KB
• a11115villagesupermarket003.jpg (GRAPHIC) — 51KB
• a11116villagesupermarket001.jpg (GRAPHIC) — 269KB
• a11116villagesupermarket002.jpg (GRAPHIC) — 258KB
• a11116villagesupermarket003.jpg (GRAPHIC) — 52KB
• a11117villagesupermarket001.jpg (GRAPHIC) — 268KB
• a11117villagesupermarket002.jpg (GRAPHIC) — 257KB
• a11117villagesupermarket003.jpg (GRAPHIC) — 52KB
• a11118villagesupermarket001.jpg (GRAPHIC) — 265KB
• a11118villagesupermarket002.jpg (GRAPHIC) — 259KB
• a11118villagesupermarket003.jpg (GRAPHIC) — 51KB
• a11119villagesupermarket001.jpg (GRAPHIC) — 269KB
• a11119villagesupermarket002.jpg (GRAPHIC) — 257KB
• a11119villagesupermarket003.jpg (GRAPHIC) — 51KB
• 0000103595-24-000002.txt (&nbsp;) — 8588KB
• vlgea-20240127.xsd (EX-101.SCH) — 21KB
• vlgea-20240127_cal.xml (EX-101.CAL) — 54KB
• vlgea-20240127_def.xml (EX-101.DEF) — 163KB
• vlgea-20240127_lab.xml (EX-101.LAB) — 308KB
• vlgea-20240127_pre.xml (EX-101.PRE) — 220KB
• vlgea-20240127_htm.xml (XML) — 409KB

PAGE NO

PART I PAGE NO. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Statements of Comprehensive Income 5 Consolidated Statements of Shareholders' Equity 6 Consolidated Statements of Cash Flows 7

Notes to Consolidated Financial Statements 8

Notes to Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative & Qualitative Disclosures about Market Risk 19

Item 3. Quantitative & Qualitative Disclosures about Market Risk 19

Controls and Procedures 19

Item 4. Controls and Procedures 19 PART II OTHER INFORMATION

Unregistered Sales of Equity Securities and Use of Proceeds 21

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21

Exhibits 21

Item 6. Exhibits 21 Signatures 22 2

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS VILLAGE SUPER MARKET, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) January 27, 2024 July 29, 2023 ASSETS Current assets Cash and cash equivalents $ 133,346 $ 140,910 Merchandise inventories 45,705 44,515 Patronage dividend receivable 5,857 12,466 Notes receivable from Wakefern 32,962 31,483 Income taxes receivable 647 — Other current assets 17,905 17,313 Total current assets 236,422 246,687 Property, equipment and fixtures, net 292,828 277,310 Operating lease assets 262,624 274,100 Notes receivable from Wakefern 65,592 62,726 Investment in Wakefern 33,145 33,107 Investments in Real Estate Partnerships 16,980 13,155 Goodwill 24,190 24,190 Other assets 38,639 36,431 Total assets $ 970,420 $ 967,706 LIABILITIES and SHAREHOLDERS' EQUITY Current liabilities Operating lease obligations $ 21,455 $ 20,389 Finance lease obligations 734 667 Notes payable to Wakefern 754 737 Current portion of debt 9,370 9,370 Accounts payable to Wakefern 84,076 77,033 Accounts payable and accrued expenses 32,458 31,441 Accrued wages and benefits 27,256 29,853 Income taxes payable 258 9,483 Total current liabilities 176,361 178,973 Long-term debt Operating lease obligations 255,980 266,683 Finance lease obligations 20,123 20,623 Notes payable to Wakefern 1,438 1,686 Long-term debt 67,652 72,426 Total long-term debt 345,193 361,418 Pension liabilities 5,116 4,893 Other liabilities 14,605 12,256 Commitments and contingencies (Note 5) Shareholders' equity Preferred stock, no par value: Authorized 10,000 shares, none issued — — Class A common stock, no par value: Authorized 20,000 shares; issued 11,556 shares at January 27, 2024 and 11,563 shares at July 29, 2023 78,000 76,179 Class B common stock, no par value: Authorized 20,000 shares; issued and outstanding 4,204 shares at January 27, 2024 and July 29, 2023 683 683 Retained earnings 362,862 343,497 Accumulated other comprehensive

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (In thousands) (Unaudited) 1. BASIS OF PRESENTATION and ACCOUNTING POLICIES In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly the consolidated financial position as of January 27, 2024 and the consolidated statements of operations, comprehensive income and cash flows for the 13 and 26 weeks ended January 27, 2024 and January 28, 2023 of Village Super Market, Inc. ("Village" or the "Company"). The significant accounting policies followed by the Company are set forth in Note 1 to the Company's consolidated financial statements in the July 29, 2023 Village Super Market, Inc. Annual Report on Form 10-K, which should be read in conjunction with these financial statements. The results of operations for the periods ended January 27, 2024 are not necessarily indicative of the results to be expected for the full year. Disaggregated Revenues The following table presents the Company's sales by product categories during each of the periods indicated: 13 Weeks Ended 26 Weeks Ended January 27, 2024 January 28, 2023 January 27, 2024 January 28, 2023 Amount % Amount % Amount % Amount % Center Store (1) $ 350,573 60.9 % $ 343,818 61.0 % $ 671,497 60.5 % $ 655,642 60.6 % Fresh (2) 202,610 35.2 200,503 35.6 396,130 35.6 389,511 35.9 Pharmacy 20,337 3.5 17,621 3.1 40,548 3.6 34,790 3.2 Other (3) 2,059 0.4 1,924 0.3 3,758 0.3 3,612 0.3 Total Sales $ 575,579 100.0 % $ 563,866 100.0 % $ 1,111,933 100.0 % $ 1,083,555 100.0 % (1) Consists primarily of grocery, dairy, frozen, health and beauty care, general merchandise and liquor. (2) Consists primarily of produce, meat, deli, seafood, bakery, prepared foods and floral. (3) Consists primarily of sales related to other income streams, including service fees related to digital sales, gift card and lottery commissions and wholesale sales.

View Full Filing

View this 10-Q filing on SEC EDGAR