US retailer The Fresh Market has forecast slowing sales and earnings after a “record” 12 months.
The company, which runs 130 stores across 25 states, reported “record” annual sales and profits for the year to 27 January.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
It posted a 24.8% increase in full-year net income for the year to US$64.1m. Diluted earnings per share were up 24.4%.
Net sales rose 20% to $1.33bn on the back of new stores and a 5.7% increase in comparable-store sales.
“Fiscal 2012 was a terrific year for The Fresh Market,” president and CEO Craig Carlock said.
Carlock admitted The Fresh Market saw a “sudden slowdown” in customers in the fourth quarter. The retailer reported a 1.9% increase in comparable-store sales in the last quarter of its financial year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe Fresh Market has forecast a 14-19% increase in diluted EPS in its new financial year. Carlock said changes to the timetable of store openings would “dampen” the retailer’s earnings. The retailer also set a target for comparable-store sales to increase 2-4% this year.
Carlock said: “We enter fiscal 2013 with a balanced view. We are simultaneously taking a conservative view on consumer trends while remaining enthusiastic about the portability of our concept, and excited about our plans to accelerate square footage growth.”
