GREENSBORO, N.C. — The Fresh Market anticipates increases in sales, margins and earnings for the third quarter, as customers visited more often and bought more per trip, the company said in a report of preliminary financial results filed with the Securities and Exchange Commission this week.
The report was part of a prospectus related to the company's plan for an initial public stock offering. Unaudited financial results for the three months that ended Sept. 26 indicate a 14% sales increase to $229 million, with comparable-store sales improving by 5.1% as a result of increases in transactions and average transaction size.
Gross margins during the period are expected to improve by 0.8% and net earnings are expected to improve 29% to $11 million, the retailer added.
Sales for the nine months to date improved 13% to $685 million, with comps improving by 4.6% and net income improving 45% to $41 million.
