Business
The Chefs’ Warehouse Withdraws Fiscal Year 2020 Guidance
RIDGEFIELD, Conn., March 18, 2020 (GLOBE NEWSWIRE) -- The Chefs' Warehouse, Inc. (NASDAQ:CHEF), a premier distributor of specialty food products in North
About this update from The Chefs' Warehouse, Inc.
[{"type":"text","content":"RIDGEFIELD, Conn., March 18, 2020 (GLOBE NEWSWIRE) -- The Chefs' Warehouse, Inc. (NASDAQ:CHEF), a premier distributor of specialty food products in North America, today announced that due to the current unprecedented market conditions related to the coronavirus (COVID-19), the Company is withdrawing financial guidance for the fiscal year ending December 25, 2020. The Company will provide an update on the business on its First Quarter earnings call.\n “In our 35 years of servicing the world’s greatest Chefs, we’ve certainly seen a lot. Our industry, at its heart, is about community. In times of happiness and success, and in more trying times like today, we are committed to being partners to those Chefs. We are being diligent about finding creative solutions to support the restaurant industry in the coming weeks and months and know we will emerge from these trying times stronger than ever,” said Christopher Pappas, Chairman and CEO of The Chefs' Warehouse, Inc. “First and foremost, the safety and well-being of our team is our number one priority,” said Jim Leddy, CFO of The Chefs’ Warehouse, Inc. “While we cannot predict how long this situation will last, our focus is on maintaining a solid balance sheet and partnering with our customers and suppliers during this time of uncertainty.” About The Chefs' Warehouse The Chefs' Warehouse, Inc. (http://www.chefswarehouse.com) is a premier distributor of specialty food products in the United States and Canada focused on serving the specific needs of chefs who own and/or operate some of the nation's leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos and specialty food stores. The Chefs' Warehouse, Inc. carries and distributes more than 55,000 products to more than 34,000 customer locations throughout the United States and Canada. Forward-Looking Statements Safe 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 statemen...