This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

The Fresh Market, Inc. Reports Fourth Quarter And Full Year Earnings

Stocks in this article: TFM

- Total Sales Increased 13.0% for Fiscal 2010 and 13.1% for Fourth Quarter - Comparable Store Sales Increased 5.0% for the Year and 6.0% for the Quarter; 5 Consecutive Quarters of Positive Growth - Company Provides Guidance for Fiscal 2011 - Company Completes $175 Million Revolving Credit Agreement

GREENSBORO, N.C., Feb. 23, 2011 (GLOBE NEWSWIRE) -- The Fresh Market, Inc. (Nasdaq:TFM), a high-growth specialty retailer, today reported sales and earnings results for the fourth quarter and full year ended December 31, 2010.

In addition to presenting the Company's financial results in conformity with U.S. generally accepted accounting principles (GAAP), the Company is also presenting results on an "adjusted" basis in order to exclude the impact of certain IPO-related charges and the tax effect of converting from a Subchapter S corporation to a Subchapter C corporation in connection with the IPO. Adjusted results are non-GAAP financial measures. The Company's use of non-GAAP financial measures is described at the end of this press release. In addition, reconciliations of adjusted results to GAAP results are presented in the schedules to this press release.

The Company reported a net loss for the fourth quarter of fiscal 2010 of ($18.1) million, which includes the impact of certain charges related to the Company's fourth quarter IPO, compared to net income of $20.8 million for the fourth quarter of fiscal 2009. Net loss per share for the fourth quarter of fiscal 2010 was ($0.38) compared to earnings per share for the fourth quarter of fiscal 2009 of $0.43. Adjusted net income increased $3.3 million, from $12.7 million in fiscal 2009 to $16.0 million in fiscal 2010. Fourth quarter adjusted earnings per share increased 22% to $0.33 in fiscal 2010 from $0.27 in 2009.

Net income for fiscal 2010 was $22.9 million, which includes the impact of the IPO-related charges, compared to net income for fiscal 2009 of $49.2 million. Diluted earnings per share for fiscal 2010 were $0.48 compared to earnings per share for fiscal 2009 of $1.03. Adjusted net income increased 36% to $41.2 million for fiscal 2010 from $30.2 million for fiscal 2009. Diluted adjusted earnings per share increased 37% to $0.86 in fiscal 2010 compared to $0.63 in fiscal 2009.

1 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs