Wednesday, June 5, 2013

The Fresh Market posts sales, profit gains in Q1

The Fresh Market announced last week that it rebounded from a disappointing fourth quarter by posting strong sales, comps and profits in the company's first quarter, which ended April 28.

Sales for the quarter were $366.6 million, a 12.9% increase as compared to the same quarter one year ago. Comparable-store sales improved by 3%, and net income for the quarter improved 14.8% to $22.1 million.

Fresh Market CEO Craig Carlock said the company is learning from a business intelligence platform launched a year ago that helps them craft promotions based on an analysis of basket contents. It has provided Fresh Market with "a level of sophistication and timeliness that we previously lacked," according to Carlock.

The Fresh Market operates 131 stores in 25 states. Philadelphia area stores are located in Center Valley, Glen Mills and Horsham.

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