After a disappointing 2013 and a 90.4 percent drop in fourth-quarter profit, Greensboro-based specialty grocer The Fresh Market Inc. is modifying its real estate expansion plans and plans to close four stores in the Houston and Sacramento markets.
The Fresh Market (NASDAQ: TFM) late Thursday reported net income of $2 million, or 4 cents per share, down 90.4 percent from $20.6 million, or 43 cents per share, the year prior.
The company reported revenues of $425.8 million in the fourth quarter, up 15 percent from $369.9 million in the year-ago period. For the full year, The Fresh Market had $1.5 billion in sales, a record high, which rose from $1.3 billion a year ago.
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