Fairway Group Holdings (FWM) Files $150M IPO
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Fairway Group Holdings Corp. (Nasdaq: FWM) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. The proposed maximum offering amount is $150 million Fairway plans to list on the Nasdaq Global Market under the ticker, "FWM."
The offering is being made through Credit Suisse, BofA Merrill Lynch, Jefferies, and William Blair.
Some financials from the initial S-1 filing: "e believe our stores are among the most productive in the industry in net sales per store and net sales per square foot as a result of our distinctive merchandising strategies, value positioning and efficient operating structure.
We have increased our net sales from $401.2 million in fiscal 2010 to $554.9 million in fiscal 2012, or 38.3%, and our Adjusted EBITDA from $23.9 million in fiscal 2010 to $35.8 million in fiscal 2012, or 49.8%, while significantly investing in corporate infrastructure to support our growth, including new store expansion.
We increased our net sales from $122.5 million in the thirteen weeks ended July 3, 2011 to $154.7 million in the thirteen weeks ended July 1, 2012, or 26.3%, and our Adjusted EBITDA from $6.9 million in the thirteen weeks ended July 3, 2011 to $11.3 million in the thirteen weeks ended July 1, 2012, or 63.9%, due principally to new store openings and leveraging our infrastructure. We had net losses of $7.1 million, $18.6 million, $11.9 million, $3.2 million and $3.9 million in fiscal 2010, fiscal 2011 and fiscal 2012 and the thirteen weeks ended July 3, 2011 and July 1, 2012, respectively."
Fairway Market is a high-growth food retailer offering customers a differentiated one-stop shopping experience "Like No Other Market," according to the S-1 filing.
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The offering is being made through Credit Suisse, BofA Merrill Lynch, Jefferies, and William Blair.
Some financials from the initial S-1 filing: "e believe our stores are among the most productive in the industry in net sales per store and net sales per square foot as a result of our distinctive merchandising strategies, value positioning and efficient operating structure.
We have increased our net sales from $401.2 million in fiscal 2010 to $554.9 million in fiscal 2012, or 38.3%, and our Adjusted EBITDA from $23.9 million in fiscal 2010 to $35.8 million in fiscal 2012, or 49.8%, while significantly investing in corporate infrastructure to support our growth, including new store expansion.
We increased our net sales from $122.5 million in the thirteen weeks ended July 3, 2011 to $154.7 million in the thirteen weeks ended July 1, 2012, or 26.3%, and our Adjusted EBITDA from $6.9 million in the thirteen weeks ended July 3, 2011 to $11.3 million in the thirteen weeks ended July 1, 2012, or 63.9%, due principally to new store openings and leveraging our infrastructure. We had net losses of $7.1 million, $18.6 million, $11.9 million, $3.2 million and $3.9 million in fiscal 2010, fiscal 2011 and fiscal 2012 and the thirteen weeks ended July 3, 2011 and July 1, 2012, respectively."
Fairway Market is a high-growth food retailer offering customers a differentiated one-stop shopping experience "Like No Other Market," according to the S-1 filing.
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Credit Suisse, William Blair, Jefferies & Co, Merrill Lynch, Bank of America, S1
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