The Fresh Market Adds to Yesterday's Gains

Shares of The Fresh Market

are adding to large gains seen yesterday after the company's first-quarter earnings report. At last check, the stock had added 3.58% and was trading at $58.24. TFM has been moving aggressively higher as the market has rebounded off of its lows of the session. Volume is running at more than double the daily average in the name. On Wednesday morning the company reported EPS of $0.40 versus analysts' consensus of $0.36. First-quarter sales at the company were up 22.8% to $324.78 million, exceeding Wall Street revenue estimates of $310.39 million. The Fresh Market also raised its fiscal 2012 EPS estimates from a range of $1.26 - $1.31 to $1.28 - $1.34. This compares to current Street consensus EPS estimates of $1.30 for fiscal 2012. The Fresh Market, Inc., (The Fresh Market) is a specialty retailer. The Company focuses on perishable product categories, which include meat, seafood, produce, deli, bakery, floral, sushi and prepared foods.