<p>Shares are on the rise for The Fresh Market today as the organic retailer released its first quarter 2014 financial performance results, beating analyst expectations. <B>Net sales increased to $431 million, up 17.6% from the year prior, while comps increased 2.5%.</b> </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>As of 1:16 PM ET, shares are up $0.95 to $29.65, a <B>3.31% increase</b>. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>“We are pleased with our first quarter performance, especially given the weather-challenged start to the quarter in the majority of our markets,” said Craig Carlock, President and CEO. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>This success comes at a time when retailers are aggressively ramping up in the organic space and trying to keep prices competitive. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>When asked <B>how The Fresh Market would respond to increased competition</b>, Jeff Ackerman, Executive Vice President and Chief Financial Officer said, “[People] don’t see us as an organic all natural retailer. There’s a couple others out there that are organic all natural retailers. People are coming to us for something different. So we think that gives us a little bit of a different platform on which to compete and may make our customers less prone to price sensitivity of what our competitors do.” </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Carlock attributes the first quarter’s success to <B>ongoing promotional successes</b> and the decision to <B>keep prices steady despite higher food costs</b>. Sales were also driven thanks to the company’s focus on <B>expanding its footprint in existing markets</b>, including Florida and North Carolina. The Fresh Market opened seven new stores during the first quarter, including three in Florida, two in North Carolina, and one in Virginia and Illinois. Carlock noted that the company is taking a more cautious approach to the pace of expansion in major metropolitan markets, still capitalizing on its strategy to gradually gain knowledge on local consumer tastes. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>As for the company’s expansion into the Southeastern region of the U.S., Carlock says he expects to complete area assessment within the next 90 to 120 days. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Last month, Carlock described recently opened stores in Houston and Sacramento as having “faced meaningful profitability hurdles.” <B>Was the rush to expand really the right answer?</b> When asked how these stores in Texas and California have been performing, Carlock says that on average, <B>sales are exceeding expectations and that the company is encouraged by these store performances so far</b>. This summer, The Fresh Market will open one store in Laguna Hills, California, with three stores in the Dallas, Fort Worth area within the next twelve months. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>How will The Fresh Market’s new “slow and steady” approach to expansion compete against quickly growing retailers like Sprouts? I’m excited to see how these two retailers will battle it out within the organic market.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://ir.thefreshmarket.com" target="_new"> The Fresh Market </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
