Fresh Market Q2 Profit Declines; Lifts FY14 GAAP EPS Range - Quick Facts

(RTTNews) - The Fresh Market, Inc. (TFM) Thursday reported second-quarter net income of $11.4 million or $0.24 per share, compared to $15.6 million or $0.32 per share in the same period last year. Adjusted earnings for the latest second quarter were $17.5 million or $0.36 per share.

On average, 21 analysts polled by Thomson Reuters expected the company to earn $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 19.0 percent to $422.23 million from $354.76 million last year, while 19 analysts expected sales of $411.85 million.

For fiscal 2014, the company now expects earnings in the order of $1.35 to $1.45 per share, up from its prior range of $1.29 to $1.39 per share.

The company continues to expect adjusted earnings in the range of $1.56 to $1.66 per share. Analysts currently expect full-year earnings of $1.56 per share.