This Day On The Street
Continue to site
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

The Fresh Market, Inc. Reports Fourth Quarter And Full Year Fiscal 2012 Earnings

The effective tax rate for the fourth quarter of fiscal 2012 was 32.1% of pre-tax income and compares to 36.7% for the corresponding thirteen week period of fiscal 2011. The lower rate was due to higher permanent differences, primarily increased enhanced charitable food contribution deductions, higher state tax benefits and a slight benefit from the passage of the American Taxpayer Relief Act of 2012, which continued the work opportunity tax credit. For fiscal 2012, the income tax rate was 35.9% of pre-tax income compared to 36.6% in the corresponding fifty-two week period for fiscal 2011.

Balance Sheet/Cash Flow

During the fourth quarter of fiscal 2012, the Company generated $15.5 million in cash flow from operations and invested $18.4 million in capital expenditures, of which $13.7 million related to new, relocated and remodeled stores. For fiscal 2012, the Company generated $91.9 million in cash flow from operations and invested $81.1 million in capital expenditures, with $69.1 million spent on real estate activities. 

The Company's cash balance as of January 27, 2013 was approximately $8.7 million. Total debt as of January 27, 2013 was $42.0 million, down $22.0 million from a balance of $64.0 million as of January 29, 2012.

Average inventory on a FIFO basis per store at the end of the fourth quarter of fiscal 2012 increased 2.0%, compared to the corresponding period in fiscal 2011. The increase resulted from commodity cost increases in certain departments, such as meat and produce, as well as increased inventory investments in new product assortments and faster growing categories to support the Company's overall sales growth.

On a trailing four quarter basis for the period ended January 27, 2013, the Company's return on assets was 18.4%, return on invested capital, excluding excess cash, was 25.9%, and return on equity was 32.4%. These financial return measures are non-GAAP financial measures. The schedules attached to this press release include a discussion of these non-GAAP measures, as well as the details of our calculations of these financial return measures.

4 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs