August 20, 2017 6:51 AM ET

Food and Staples Retailing

Company Overview of The Fresh Market, Inc.

Company Overview

The Fresh Market, Inc. operates as a specialty grocery retailer in the United States. The company offers various food products that focus on perishable product categories, including meat, seafood, produce, deli, bakery, floral, sushi, and prepared foods; and on non-perishable product categories, such as traditional grocery, frozen, and dairy products, as well as bulk food products, coffee and candy, beer, and wine. As of April 4, 2016, it operated 187 stores in the Southeast, Midwest, Mid-Atlantic, and Northeast. The company was founded in 1982 and is headquartered in Greensboro, North Carolina. As of April 27, 2016, The Fresh Market, Inc. was taken private.

628 Green Valley Road

Suite 500

Greensboro, NC 27408

United States

Founded in 1982

8,000 Employees

Phone:

336-272-1338

Key Executives for The Fresh Market, Inc.

Interim CEO & CFO
Senior Vice President and General Counsel
Age: 51
Executive Vice President
Age: 53
Principal Accounting Officer, Vice President and Controller
Age: 49
Senior Vice President of Store Operations
Age: 58
Compensation as of Fiscal Year 2017.

The Fresh Market, Inc. Key Developments

The Fresh Market, Inc. Announces Executive Changes

The Fresh Market announced that Rick Anicetti has resigned his position as Chief Executive Officer and Board member. Chief Financial Officer Brian Nicholson has been appointed Interim Chief Executive Officer, effective immediately, and will assume this position in addition to his current role. Along with Mr. Nicholson, The Fresh Market’s current Senior Leadership Team will continue to execute the company’s strategic plan and adapt as needed to the evolving marketplace. Mr. Nicholson has served as the company’s Senior Vice President and Chief Financial Officer since returning to The Fresh Market in September 2016. From 2004 to 2012, he held a variety of positions for the company, including serving as Vice President in the business strategy, financial planning and analysis function from 2005 to 2012.

The Fresh Market Shutters Five Stores; Plans to Open Stores in Columbia and Doral, Fla., Near Miami

The Fresh Market is closing five stores in the coming weeks while continuing its effort to reposition as a more mainstream grocer with the rollout of its new format to additional locations. Stores are closing in Livingston, N.J.; Woodbury, N.Y.; Ashburn, Va.; Altamonte Springs, Fla.; and Kildeer, Ill. Meanwhile The Fresh Market is planning to open a store this April 26, 2017 in Columbia, S.C., that features an updated look and more everyday grocery items alongside the usual assortment of fresh and specialty offerings. The company, which had long positioned itself as an upscale destination for foodies, debuted its revamped positioning in three markets in its home state of North Carolina last year and opened a store with the new approach earlier this year in Boca Raton, Fla. The new and remodeled stores include an increased selection of local items, more traditional grocery offerings, including pet and baby products, and an increased emphasis on sharp pricing, the company said. In addition, new signage is designed to offer better navigation to individual departments and offers guidance for shoppers with dietary restrictions. At the Columbia store, a new Mind & Body department will feature a selection of more than 2,000 vitamins, minerals and supplements, as well as an in-store specialist to answer shopper questions. The Fresh Market is also planning to open a new store in Doral, Fla., near Miami, on May 24, 2017. It will operate about 175 locations after the planned openings and closures.

The Fresh Market Plans to Close 13 Stores

The Fresh Market plans to close 13 stores in Kansas, Missouri, Iowa and Texas, including its store in Prairiefire in Overland Park and its cafe in the Museum of Prairiefire. The stores are expected to close by May 18.

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