Originally published at www.seclive.com
Filing in Focus: Fresh Market 8-K, August 28, 2013
The Fresh Market, Inc. (NASDAQ:TFM) decreased its annual guidance following revenues that did not maintain the momentum established the quarter earlier. For the second quarter of fiscal year 2013, Fresh Market reported comparable sales growth of 3.4%, continued improvement from the previous quarter's growth of 3.0% Revenues increased 13.3% to $354.8M from this quarter a year ago but declined sequentially from first quarter. Earnings guidance was reduced from the $1.51 to $1.58 range to between $1.50 and $1.55 earnings per share. Thanks to its continued comparable sales growth, Fresh Market increased its guidance from between 2.5% and 4.5% to between 3.0% and 4.5%. Fresh Market intends on opening 21 to 22 stores for year, with 10 to 11 stores to be opened in third quarter, with four opening in fourth quarter.
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