The Fresh Market (TFM)
Goldman Sachs 2012 Global Retailing Conference
September 05, 2012 03:00 PM ET
Craig Carlock - President and CEO
Lisa Klinger - CFO
Good afternoon everyone. I am Steven (inaudible) on the food and retail analyst at Goldman Sachs. And we're very excited to have Fresh Market which is one of the highest growth concept markets in retail at the conference. As it grows from 124 stores today to over 500 longer term. The recent combination of accelerating low to mid teen square footage growth, consistent mid to high single digit comp growth and operating margin expansion as powered 30% plus EPS growth year to date. To better shed light on what differentiates the Fresh Market from its peers to create this opportunity we're pleased to host Craig Carlock, President and CEO and Lisa Klinger EVP and CFO.
Thank you Steven. Hello everyone. Lisa and I are very excited to be here with you today. Like to talk you about the Fresh Market. [Audio Gap] For the reason that we're so confident that we can grow is because we've been growing for many, many years. We have a history of sales and profit growth, there's just no doubt about that. I think these charts tell quite an exciting story, if you take a look at them. On the top left you can see we've grown units, 10% the last five years and I would say we slowed down our unit growth in 2008 and 2009 so that five year growth rate of 10% compounded includes two slow years. We've growing sales by 11%, the sales have grown faster than units and we've built units and built sales. We've growing profits much faster than that. You see we have an adjusted EBITDA that's grown by 20% and operating income that's grown by 23% per year over those five years.