This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fairway Group Holdings Corp. Reports Second Quarter Results

Stocks in this article: FWM

Progress on the new production facility remains on track and the Company recently expanded the executive team with the appointment of the Vice President of Quality Assurance & Compliance for the Production Center. The Company expects to begin phasing in select product lines in early calendar 2014, beginning with produce cross-docking and followed by select bakery and commissary products. The new facility will have the capacity to support approximately 30 stores in the NY metropolitan area.

Real Estate Pipeline Continues to Develop

During the second quarter, the Company announced three new signed leases. The Lake Grove store, expected to open in the spring of 2014, will be Fairway's third on Long Island and is located in a premier retail corridor of Suffolk County. The second store, which is expected to open in the fall 2014, will be the first Fairway in lower Manhattan and will be located in the neighborhood of TriBeCa. The 45,000 square foot store will be located in a heavily populated residential area which will serve customers in TriBeCa as well as Battery Park City. The third store will be located in the new Hudson Yards development in west midtown Manhattan and is expected to open in the spring of 2015.

Operating Results for the Second Quarter of Fiscal 2014

For the second quarter of fiscal 2014, net sales increased $22.7 million, or 14.1%, to $183.2 million from $160.5 million in the second quarter of fiscal 2013. Net sales growth in the quarter was driven primarily by new stores opened subsequent to July 1, 2012 which contributed approximately 94% of the total sales growth, with the balance coming from an increase in same store sales of 1.0%. Management estimates that same store sales were negatively impacted by approximately 100 basis points due to the holiday overlap of Labor Day and Rosh Hashanah as well as a one week delay in school openings this year. Same store sales growth in the quarter was driven by an increase in average transaction size which grew 1.6% partially offset by a decrease in comparable transactions of 0.6%.

3 of 7

Select the service that is right for you!

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • 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