Shares of The Fresh Market (TFM) have fallen significantly in Wednesday's trading session after the specialty retailer announced a disappointing set of fourth-quarter results. Shares ended the day some 9.7% lower after trading with losses up to 14%.
Fourth-Quarter Results
The Fresh Market generated fourth-quarter revenues of $369.9 million, up 15.3% on the year before. Growth was mainly driven by new store openings as same-store sales growth came in at merely 1.9%. Same-store sales growth was entirely driven by a 2.0% increase in the number of transactions as store traffic fell by 0.1%.
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