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Fairway Group shrinks Q1 net loss: plans new store model
New York - Fairway Group Holdings Corp., the parent company of Fairway Market, moderately shrunk its net loss in the first quarter of fiscal 2015.
The retailer reported net loss of $8.54 million, down 3% from $8.84 million a year earlier. The decrease in the net loss was primarily attributable to a decrease in general and administrative expenses, production center start-up costs and direct store expenses, partially offset by lower gross profit and an increase in the income tax provision, interest expense and store opening costs.
