NEW YORK (TheStreet) -- Shares of The Fresh Market Inc. (TFM) are higher by 8.71% to $33.08 in mid-morning trading on Friday, after the company beat analysts' expectations for the 2014 second quarter, reporting adjusted net income of $46.2 million, or 36 cents per share.
Analysts polled by Thomson Reuters expected the specialty grocery retailer to report earnings of 35 cents per share for the most recent quarter.
The Fresh Market's net sales for the 2014 second quarter grew 19% to $422.2 million over the 2013 second quarter, while analysts were expecting $411.85 million in revenue.
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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, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and premium valuation."