Fairway Group Holdings Earnings: Here’s Why the Stock is Up Now
Fairway Group Holdings (NASDAQ:FWM) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.45%.
Fairway Group Holdings Earnings Cheat Sheet
Revenue: Was the same at $179 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: Fairway Group Holdings reported adjusted EPS loss of $1.17 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It missed the average revenue estimate of $183.1 million.
Quoting Management: “We are pleased to report strong results for the fourth quarter of fiscal 2013. Fairway’s Board of Directors, management and employees are excited about our growth outlook and the opportunities ahead,” said Charles Santoro, Fairway’s Executive Chairman. “Fairway began as a small vegetable and fruit stand on a New York City corner and has developed into a leading food retailing destination in the Greater New York City metropolitan area. We believe that our market position, differentiated merchandising concept and highly scalable infrastructure provide us with exciting long-term growth opportunities.”
Key Stats (on next page)…
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from $0 to a loss $0.06. For the current year, the average estimate has moved down from $0 to a loss of $0.52 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)