The Fresh Market reported an excellent third quarter yesterday, although analysts had hoped for better results.
- Net income for the quarter grew to $10.9 million, a 19% gain as compared to the same period one year ago.
- Sales reached $321.5 million, a 22.1% gain.
- Income per share was $0.23, compared to analysts expectations of $0.26.
- Year-to-date net income was $43.5 million on sales of $959.3 million. Both figures represent significant increases (31.2% and 21.8%, respectively) compared to the same period a year ago.
- Comparable-store sales were up 5.6% for the quarter and 7.3% year-to-date.
As of the close of business yesterday, The Fresh Market’s shares were down 12% since analysts expectations were not met.
