The Fresh Market (TFM) Revenue Misses, Stock Falls in After-Hours Trading
NEW YORK (TheStreet) -- The Fresh Market (TFM) stock is declining 0.5% to $24.10 in after-hours trading on Thursday after the company reported lower than expected revenue for the fiscal 2015 third quarter. Earnings surpassed estimates.
While revenue increased 3.3% year-over-year to $433.12 million for the quarter ended October 25, it missed estimates of $436.24 million.
The grocery store chain reported earnings of 23 cents per share for the latest quarter, beating estimates by 1 cent.
Comparable store sales declined 3.7% for the quarter, driven by a 3.7% drop in the number of transactions.
"With the holiday season fast approaching, we are making changes as quickly as prudently possible to our productivity, price optimization and brand differentiation to help stabilize traffic trends and drive sales during this key shopping period," CEO Rick Anicetti said in a statement.
The Fresh Market is in the process of a strategic and financial review, which began in October, just over a month after Anicetti was appointed CEO.
Separately, TheStreet Ratings team rates FRESH MARKET INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate FRESH MARKET INC (TFM) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins.
You can view the full analysis from the report here: TFM
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