The Fresh Market Plunges After Q3 Results

Shares of The Fresh Market

are among the biggest losers on the NASDAQ stock market on Wednesday after the company released its fiscal third-quarter earnings results prior to the opening bell. Shares closed Wednesday down more than 12 percent. The company reported net income for the quarter of $10.9 million or $0.23 per share, compared to $9.2 million or $0.19 per share, in the year ago period. This came up short of Wall Street analysts' consensus earnings per share estimates of $0.26. Revenue in the period was $321.5 million from $263.3 million last year. This beat Wall Street revenue estimates of $318.67 million. For fiscal 2012, The Fresh Market guided for earnings per share between $1.33 to $1.38 and a full-year same store sales increase of 5.5 to 6.5 percent. Currently, Wall Street analysts have consensus EPS estimates of $1.38 for the full-year.