Howard Glickberg to Retire as Vice Chairman of Real Estate Development of Fairway Market
Dec 8 14
Howard Glickberg, who took his grandfather's fruit and vegetable stand on 74th and Broadway in New York City and, as the longtime Chief Executive Officer and more recently as Vice Chairman of Real Estate Development, build it into the iconic Fairway Market with 15 locations across the tri-state New York/New Jersey/Connecticut region, will retire from the company effective immediately. The announcement was made by Jack Murphy, Fairway Market's CEO, who added that Mr. Glickberg would remain on the company's Board.
Fairway Group Holdings Corp. Presents at 2014 Deutsche Bank Health, Wellness & Specialty Retailer Consumer Conference, Dec-10-2014 through Dec-11-2014
Dec 8 14
Fairway Group Holdings Corp. Presents at 2014 Deutsche Bank Health, Wellness & Specialty Retailer Consumer Conference, Dec-10-2014 through Dec-11-2014. Venue: The St. Regis Atlanta, 88 West Paces Ferry Road NW, Atlanta, GA 30305, United States. Presentation Date(s): Dec-11-2014.
Fairway Group Holdings Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 28, 2014
Nov 6 14
Fairway Group Holdings Corp. reported unaudited consolidated earnings results for the second quarter and six months ended September 28, 2014. For the quarter, the company reported net sales of $193,979,000 compared to $183,215,000 a year ago. Loss from operations was $11,462,000 compared to $6,421,000 a year ago. Loss before income taxes was $16,295,000 compared to $11,420,000 a year ago. Net loss attributable to common stockholders was $17,235,000 or $0.40 basic and diluted per share compared to $12,224,000 or $0.30 basic and diluted per share a year ago. Adjusted EBITDA was $6.7 million for the second quarter of fiscal 2015 compared to $10.6 million in the second quarter of fiscal 2014. Net sales growth in the quarter was attributable to the three new stores that were opened subsequent to the first quarter of fiscal 2014. The sales growth in the quarter was partially offset by negative same store sales. Same store sales declined 3.9% in the quarter compared to the second quarter of fiscal 2014. On a quarter sequential basis, the decrease in the same store sales from negative 1.7% in the first quarter of fiscal 2015 to negative 3.9% in the second quarter of fiscal 2015 is primarily due to the full quarter impact of lost sales at Red Hook, Brooklyn location as a result of a competitive opening. The increase in the net loss was primarily attributable to lower gross margins, increases in direct store expenses, equity compensation expense, severance expense and production center start-up costs. Adjusted net loss was $9,146,000 compared to $5,988,000 a year ago. The decrease in adjusted EBITDA was primarily attributable to the lower gross margins, an increase in Central Services and lower contribution from the Red Hook store. Total CapEx for the quarter was $10.6 million, inclusive of $3.8 million in connection with Lake Grove and $5 million in connection with the new production facility.
For the six months period, the company reported net sales of $392,247,000 compared to $369,993,000 a year ago. Loss from operations was $15,433,000 compared to $26,579,000 a year ago. Loss before income taxes was $25,044,000 compared to $36,963,000 a year ago. Net loss attributable to common stockholders was $26,929,000 or $0.62 basic and diluted per share compared to $84,300,000 or $2.23 basic and diluted per share a year ago. Net cash provided by operating activities was $5,165,000 compared to net cash used in operating activities of $13,216,000 a year ago. Capital expenditures were $24,923,000 compared to $26,465,000 a year ago.
Fairway Group Holdings Corp. to Report Q2, 2015 Results on Nov 06, 2014
Oct 15 14
Fairway Group Holdings Corp. announced that they will report Q2, 2015 results at 4:30 PM, US Eastern Standard Time on Nov 06, 2014