Chefs' Warehouse (CHEF) Announces FY20 Guidance

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.

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 billion
• Gross profit between $425 million and $435 million
• Adjusted EBITDA between $95 million and $99 million

(*Consensus sees FY20 revenue of $1.73 billion)

“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.

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