Finance & Capital Management

After reporting disappointing financial results for the first quarter, the Fresh Market can use all the help it can get in communicating its value proposition to shoppers.

So it may not come as a surprise that the grocery chain has selected a new advertising agency to drive growth going forward. The Fresh Market announced that its new agency, Zimmerman, will conduct strategic planning, creative services, brand activation, media planning & buying (traditional and digital), internal campaign development and social media activation for the company.

Beyond the 10 retail real estate pros highlighted as our Under 40 Rising Stars, we handpicked another 10 as the “Ones to Watch.” Following is an alphabetical list:

Crystal Allen, age 31, VP, Transwestern

D.J.

San Francisco — Gap Inc. posted an 8% decline in its first-quarter profit amid currency fluctuations, merchandise delays from the West Coast ports slowdown, and sluggish sales at its namesake and Banana Republic stores. On a positive note, Old Navy continued its strong performance. 
 

New York – Increases in selling, general and administrative (SG&A) expenses and interest expenses helped increase net loss at New York & Co. to $4.7 million in the first quarter of fiscal 2015 from $300,000 the same period a year earlier. The growing loss occurred as sales improved 2% to $223.4 million from $219.6 million, and same-store sales rose 1.8%.

New York - The proposed $19 million deal between Target Corp. and MasterCard stemming from the retailer's 2013 data breach has fallen apart after it failed to get the support of 90% of the banks affected by the breach, the Minneapolis StarTribune reported. Click here for the full story.

Hibbett Sports says harsh winter weather, tax refund delays and the West Coast port dispute all contributed to the company posting an unanticipated decline in same store sales for the first quarter.

Jeff Rosenthal, president and CEO, said: “We experienced early headwinds in the quarter, with February posting a negative high-single-digit comp due to impacts from weather-related closures, port delays and a shift in the timing of tax refunds.”

Greensboro, N.C. – It was a mixed first quarter for The Fresh Market Inc. as the grocery retailer met Wall Street expectations for profit but fell short on sales. Net income totaled $15.17 million, down 8% from $16.57 million.

Higher operating expenses drove the reduction in net income. Sales increased 7% to $462.04 million from $431 million. Same-store sales dropped 0.1%.

The Fresh Market says its planned exit from California led to higher costs and lower profit in the first quarter, but analysts say the company may be in trouble.