The Fresh Market Earnings Cheat Sheet: Double-Digit Revenue Growth

The Fresh Market (NASDAQ:TFM) reported its results for the second quarter. Fresh Market, Inc. retails food. The Company operates a chain of stores that retail fresh premium perishable food items. Fresh Market operates in the southeastern, midwestern and mid-Atlantic states.

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The Fresh Market Earnings Cheat Sheet for the Second Quarter

Results: Net income for the company was $10.5 million (22 cents per share) vs. pro forma net income of $6.9 million (14 cents per share) the year earlier.

Revenue: Rose 13.6% to $259.5 million.

Actual vs. Wall St. Expectations: Fresh Market beat the mean analyst estimate of 21 cents per share.

Quoting Management: “We are happy to report another healthy quarter of both sales and earnings growth,” said Craig Carlock, President and Chief Executive Officer. “Our comparable store sales grew 4.6 %, and this marked our seventh consecutive quarter of comparable sales growth of 4.0% or greater. As revenues grew, we also continued to expand our margins. In the second quarter, we increased our operating margin from 5.2% last year to 6.5% this year despite pressure from rising food and commodity costs and despite the additional costs incurred related to being a publicly-traded company. Additionally, we were excited to open five new stores and to relocate one existing store during the quarter and we are happy with their performance so far.”

Key Stats:

The company has now topped analyst estimates for the last three quarters. It beat the mark by 8 cents in the first quarter and by 3 cents in the fourth quarter of the last fiscal year.

Competitors to Watch: Whole Foods Market, Inc. (NASDAQ:WFM), Safeway Inc. (NYSE:SWY), The Kroger Co. (NYSE:KR), Ruddick Corporation (NYSE:RDK), Ingles Markets, Inc. (NASDAQ:IMKTA), Winn-Dixie Stores, Inc. (NASDAQ:WINN), SUPERVALU INC. (NYSE:SVU), Weis Markets, Inc. (NYSE:WMK), Wal-Mart (NYSE:WMT), Target (NYSE:TGT) and Arden Group, Inc. (NASDAQ:ARDNA).

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(Source: Xignite Financials)