Fairway Group (FWM) Misses Q2 EPS by 2c

Fairway Group (NASDAQ: FWM) reported Q2 EPS of ($0.27), $0.02 worse than the analyst estimate of ($0.25). Revenue for the quarter came in at $179.8 million versus the consensus estimate of $188.06 million.

Same store sales decreased 6.5% for the second quarter of fiscal 2016 compared to the second quarter of fiscal 2015. Customer transactions at our comparable stores decreased by 9.2%, although the average transaction size increased by 3.0% compared to the second quarter of last year. Same store sales were negatively impacted by approximately 140 basis points due to the competitive opening near our Upper Eastside location in February 2015 and approximately 30 basis points due to increased promotional activity. Excluding the impact of the Upper Eastside location and the increased promotional activity, same store sales decreased approximately 4.8%.

For earnings history and earnings-related data on Fairway Group (FWM) click here.

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