Fresh Market Q2 sales gains driven by new store openings, comps gain
SEAFOODNEWS.COM [Supermarket News] By Jon Springer - August 22, 2014 -
The Fresh Market on Thursday said sales from new stores exceeded expectations and helped the specialty retailer post sales and earnings slightly ahead of analyst estimates during the fiscal second quarter.
Net sales for the period, which ended July 27, increased 19% to $422.2 million, and comparable store sales improved by 2.9% reflecting a 2.7% increase in the number of transactions and a 0.2 increase in average transaction size.
Net earnings of $11.4 million decreased by 27.1% from the same period a year ago, reflecting impairment and store closing costs for stores in Texas and California.
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