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Fresh Market profit up in Q2, to open 12-14 stores

Greensboro, N.C. -- Specialty grocer The Fresh Market reported Wednesday that net income for the second quarter rose to $10.5 million from $6.9 million a year earlier.

Sales rose 13.6% to $259.5 million and same-store sales increased 4.6%, marking the seventh consecutive quarter of comps growth of 4% or greater.

The grocer opened five stores and relocated one existing store during the quarter, including a new market entry in the state of New Jersey. Fresh Market says it is on track to open a total of 12 to 14 new stores during fiscal 2011.

“We are pleased with the momentum in the business through the first half of fiscal 2011,” said Craig Carlock, president and CEO.