Seeking Alpha

The Fresh Market skies after Q1 results

  • Adjusted EPS of $0.43 slips from $0.46 one year ago, but revenues increased 17.6% and comp store sales grew 2.5%. Gross margin slipped to 34.4% from 35.3%.
  • Cash flow from operations of $56.2M vs. $45.9M one year ago. $24.4M went to capital expenditures (remodeling and new stores), with most of the rest going to pay down the company's revolving credit line.
  • Seven new stores opened in Q1, with leases signed on another 21. Total stores as of April 27 of 154.
  • Full year adjusted EPS guidance of $1.56-$1.66 is reaffirmed, with comp store sales growth of 1.5-3.5%.
  • CC at 5 ET
  • TFM +11.4% AH
  • Previously: The Fresh Market EPS in-line, beats on revenue

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