Business
The Chefs’ Warehouse, Inc. Announces Preliminary Full Year 2020 Guidance
RIDGEFIELD, Conn., Jan. 14, 2020 (GLOBE NEWSWIRE) -- The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) (the “Company”), a premier distributor of specialty food
About this update from The Chefs' Warehouse, Inc.
[{"type":"text","content":"RIDGEFIELD, Conn., Jan. 14, 2020 (GLOBE NEWSWIRE) -- The Chefs’ Warehouse, Inc. (NASDAQ: CHEF) (the “Company”), a premier distributor of specialty food products in the United States and Canada, today announced its preliminary outlook for full year 2020.\n Based on current trends in the business, the Company is providing the following financial guidance for fiscal year 2020: Net sales between $1.65 billion and $1.70 billionGross profit between $425 million and $435 millionAdjusted EBITDA between $95 million and $99 million “2020 marks our 35th year building The Chefs’ Warehouse. Our amazing team has never been stronger, more focused or excited about our future as a leading national marketer and distributor to the chef-driven customer base that continues to grow with Chefs' Warehouse and its family of companies as its partner,” said Christopher Pappas, chairman and chief executive officer of the Company. Forward-Looking StatementsSafe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the Company’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties and are based on current expectations and management estimates; actual results may differ materially. The risks and uncertainties which could impact these statements include, but are not limited to, the Company’s sensitivity to general economic conditions, including disposable income levels and changes in consumer discretionary spending; the Company’s ability to expand its operations in its existing markets and to penetrate new markets through acquisitions; the Company may not achieve the benefits expected from its acquisitions, which could adversely impact its business and operating results; the Company may have difficulty managing and facilitating its future growth; conditions beyond the Company’s control could materially affect the cost and/or availability of its specialty food products or center-of-the-plate products and/or interrupt its distribution network; the Company’s increased distribution of center-of-the-plate products, like meat, poultry and seafood, involves increased exposure to price volatility experienced by those products; the Company’s business is a low-margin business and its profit margins may be sensitive to inflationary and deflationary pr...