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Fresh Market Q1 profit soars 43%; on track to open up to 16 stores in 2012
Greensboro, N.C. -- Fresh Market reported Wednesday that profit for the first quarter climbed 43% to $19.3 million, from $13.5 million in the year-ago period.
Revenue rose 23% to $324.8 million, compared with $264.5 million in the previous year and surpassing Wall Street’s expected $310.6 million in revenue. Same-store sales increased 8.2%. The strong performance across the board prompted the grocer to bump its outlook for the year.