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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