The Fresh Market up 13.5% on Strong Q1 Results
The Fresh Market (NASDAQ: TFM) is trading higher on the session following its Q1 earnings announcement this morning. The company reported an EPS of $0.40 vs $0.36 estimates and revenues of $324.8 million vs $310.4M estimates. The Fresh Market also guided FY 2012 EPS $1.28-1.34 vs $1.30 estimates.
Craig Carlock, President and Chief Executive Officer stated:"Given the strong first quarter performance and our current expectations for the remainder of fiscal 2012, we now expect fiscal 2012 earnings growth of approximately 20% to 25% from fiscal 2011's $1.07 per share to a range of $1.28 to $1.34 per share, comparable store sales growth of 4.5% to 6.5% and the addition of 14 to 16 new stores. We also expect operating margin expansion of between 20 and 40 basis points, which includes the effect of the Company's anticipated operating expense investments related to our growth plans, especially in connection with establishing and then expanding our west coast store base."
The Fresh Market is currently trading at $55.48, a gain of $6.62 or 13.55%.
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