The Fresh Market Plans Three New Stores Following its California Exit
GREENSBORO, NC - Following a $4.8 million operating loss from its California stores, The Fresh Market is opening new locations closer to its Greensboro, NC base.
"Looking forward, we remain focused on our key growth strategies, including opening new stores in our core markets and continuing to increase shopper frequency,” said Interim CEO Sean Crane in the same release where he announced the company will be exiting California.
According to a report by the Triad Business Journal, The Fresh Market has confirmed plans for one store in West Des Moines, IA, and one in Charlotte, NC. There is also some speculation about a store near Nashville, TN, according to the Nashville Business Journal.
The Fresh Market is expected to anchor a retail development in Hendersonville, TN, making a total of 9 locations in the state.
The confirmation for these stores came within a month of The Fresh Market's announcement that it was pulling out of California. The company reported heavy losses and slower-than-anticipated growth in the state, and made the decision to shift its focus back to the eastern half of the country, according to the Triad Business Journal.
Crane said in March that he expects the retailer to open 19 new stores in 2015. Two are expected in the company's first quarter, more than five in the second quarter, and 11 to 12 in the second half of the year.
Currently, The Fresh Market operates over 170 stores in 27 states, five of which were opened in the company’s Q4 2014.