The Fresh Market Inc. (TFM) reported that its first-quarter net income rose to $22.1 million or $0.46 per share, from $19.3 million or $0.40 per share last year.
On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.44 for the quarter. Analysts' estimates typically exclude special items.
The company's gross profit increased 14.8% in the first quarter of fiscal 2013. Gross margin rate increased 60 basis points to 35.3% compared to the corresponding prior year period. The company said the increase in its gross margin rate was primarily attributable to an increase in the merchandise margin, and also reflected a 10 basis point reduction in LIFO expense as a percentage of sales.
Net sales increased 12.9% to $366.6 million from $324.8 million last year. Analysts expected revenue of $369.69 million for the quarter.
Comparable store sales increased 3.0%. The company said the comparable store sales increase resulted from a 2.4% increase in average transaction size and a 0.6% increase in the number of transactions.
The company expects fiscal 2013 profit per share to be in the range of $1.51 to $1.58. Analysts expect the company to report fiscal 2013 profit per share of $1.56.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.