Thursday, August 30, 2012

Store growth for The Fresh Market set at 15% annually

The Fresh Market, which operates 121 stores in 24 states, said it plans to open 14-16 new stores next year and plans to maintain a 15% growth rate for the foreseeable future.

The company opened 11 stores so far this year and has three to five openings planned in the second half of the year. For the first half of the year, The Fresh Market saw net income increase 35.9% to $32.6 million, while sales increased 21.7% to $637.8 million.

According to President and CEO Craig Carlock, the company is doing well "because we aren't in quite a price-sensitive position. We sell to folks who are there not for the price but for the quality, the service, the cleanliness and the ease of getting in and out."

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