Fresh Market Q1 Profit Tops Estimate; Sales Miss

(RTTNews) - Grocery retailer The Fresh Market, Inc. (TFM) reported net income for the first quarter of $15.2 million or $0.31 per share, compared to $16.6 million or $0.34 per share for the year-ago quarter.

Excluding items, adjusted earnings for the first quarter were $0.50 per share, compared to $0.43 per share in the prior year quarter.

Net sales for the first quarter rose 7.2% to $462.04 million from $431.00 million a year ago. Same-store sales for the quarter decreased 0.1%.

Analysts polled by Thomson Reuters expected the company to earn $0.49 per share on revenue of $473.86 million for the first quarter. Analysts' estimates typically exclude special items.

The company forecast fiscal 2015 adjusted earnings of $1.85 to $1.93 per share on net sales growth of 9.0% to 11.0%.

Analysts currently expect the company to earn $1.87 per share on revenue growth of 12.8% for the fiscal year 2015.