GREENSBORO, N.C. -- (Business Wire)
The Fresh Market, Inc. (NASDAQ: TFM), a growing specialty grocery
retailer, today announced that its Board of Directors has named veteran
food retail executive Richard (“Rick”) Anicetti as the Company’s
President and Chief Executive Officer, effective September 1, 2015. Mr.
Anicetti has also been elected to the Company’s Board of Directors.
Mr. Anicetti joins The Fresh Market with more than 30 years of
experience across all key retail functions at Hannaford Brothers Company
and Food Lion LLC. He served for eight years as President and Chief
Executive Officer of Food Lion grocery stores, a subsidiary of Delhaize
Group with more than 1,300 locations primarily in the southeastern
United States. In addition, he serves as a member of the board of
directors at Number Holdings, Inc., the parent company of 99 Cents Only
Stores LLC, where he also served as interim Chief Executive Officer, and
he is a director on the board of Smart & Final Stores, Inc. In
conjunction with his appointment to The Fresh Market, Mr. Anicetti will
resign after a period of transition from his current board positions.
Ray Berry, founder of the Company and Chairman of the Board of
Directors, commented, “After an extensive search, we are delighted that
Rick Anicetti will join us as the chief executive officer of The Fresh
Market. Rick is a highly accomplished food retail executive serving in
leadership roles at Hannaford and Delhaize. He and I have spent time
together reviewing the competitive marketplace and I am impressed with
his knowledge of store operations, as well as his demonstrated vision,
innovation and ability to successfully run large grocery organizations.
We have every confidence Rick will lead The Fresh Market effectively and
creatively and are assured of the Company's future under his direction.
We remain grateful to Sean Crane for his efforts towards improving our
operations in this time of transition.”
Rich Noll, lead independent director of The Fresh Market’s Board of
Directors, commented, “As we look to return the company to growth, we
focused on identifying a performance-driven leader with the ability to
create a performance-driven culture. Rick will be the first CEO hired
from outside the company, and we believe that he has the right
combination of strategic leadership and personnel skills to lead The
Fresh Market into a new phase of growth and build value for our
stockholders in the coming years.”
Anicetti brings exceptional food retail experience and a strong track
record of strategic leadership to The Fresh Market. During his tenure at
Food Lion, he led a major business model transformation, changing Food
Lion from a distribution company to a customer-centric organization and
he was also the co-CEO of Delhaize America. After leaving Delhaize in
2010, he joined Ares Capital as a strategic advisor and served on the
board of two of their portfolio companies, Number Holdings, Inc., the
parent company of 99 Cents Only Stores LLC and on the board of
publicly-traded Smart & Final.
“I am honored and excited to have the opportunity to lead The Fresh
Market,” said Anicetti. “I have admired the company’s brand and unique
shopping experience for many years and believe that we have tremendous
opportunity to further evolve our offerings and services. I look forward
to working with our leadership team and employees to realize the growth
potential of The Fresh Market.”
About The Fresh Market, Inc.
Founded in 1982, The Fresh Market, Inc. is a specialty grocery retailer
focused on providing high-quality products in a unique and inviting
atmosphere with a high level of customer service. As of September 1,
2015, the Company operates 176 stores in 27 states across the United
States. For more information, please visit www.thefreshmarket.com.
Forward Looking Statements: This document contains
forward-looking statements that reflect our plans, estimates, and
beliefs regarding future business and financial performance and
financial condition, and include those in the "Fiscal 2015 Outlook"
section above. These statements involve a number of risks and
uncertainties. Any statements contained herein (including, but not
limited to, statements to the effect that The Fresh Market or its
management "anticipates," "plans," "estimates," "expects," "believes,"
and other similar expressions) that are not statements of historical
fact should be considered forward-looking statements. The following are
some of the factors that could cause actual future results to differ
materially from those expressed in any forward-looking statements:
accounting entries and adjustments at the close of a fiscal quarter;
unexpected expenses and risks associated with our business; our ability
to remain competitive in the areas of merchandise quality, price,
breadth of selection, customer service and convenience; the effective
management of our merchandise buying and inventory levels; the quality
and safety of food products and other items that we may sell; our
ability to anticipate and/or react to changes in customer demand;
changes in economic and financial conditions, including U.S. fiscal and
monetary policy, and the resulting impact on consumer confidence; other
changes in consumer confidence and spending; unexpected consumer
responses to promotional programs; unusual, unpredictable and/or severe
weather conditions, including their effect on our supply chain and our
store operations; the effectiveness of our logistics and supply chain
model, including the ability of our third-party logistics providers to
meet our product demands and restocking needs on a cost competitive
basis; the execution and management of our store growth, including the
availability and cost of acceptable real estate locations for new store
openings, the capital that we utilize in connection with new store
development and the anticipated time between lease execution and store
opening; the mix of our new store openings as between build to suit
sites and second-generation, as-is sites and as between existing markets
and newer markets; the actions of third parties involved in our store
growth activities, including property owners, landlords, property
managers, contractors, subcontractors, government agencies, and current
tenants who occupy one or more of our proposed new store locations, all
of whom may be impacted by their financial condition, their lenders,
their activities outside of those focused on our new store growth and
other tenants, customers and business partners of theirs; impairment of
recorded goodwill and other long-lived assets; global economies and
credit and financial markets; our ability to maintain the security of
electronic and other confidential and/or personal information; serious
disruptions and catastrophic events; competition; personnel recruitment
and retention, including the outcome and costs of the current CEO search
being conducted as part of our previously announced leadership change;
acquisitions and divestitures, including the ability to integrate
successfully any such acquisitions; information systems and technology;
commodity, energy, fuel, and other cost increases; compliance with laws,
regulations and orders; changes in laws and regulations; outcomes of
litigation and proceedings and the availability of insurance,
indemnification, and other third-party coverage of any losses suffered
in connection therewith; tax matters; numerous other matters of
national, regional and global scale, including those of a political,
economic, business, and competitive nature; and other factors as set
forth from time to time in our filings with the Securities and Exchange
Commission. Any forward-looking statement, including any contained
herein, speaks only as of the time of this release and we do not
undertake to update or revise them as more information becomes available
or to disclose any facts, events or circumstances after the date of this
release that may affect the accuracy of any forward-looking statement,
except as may be required by any applicable securities laws.
This press release, and access to our earnings call, is also available
in the Investor Relations portion of The Fresh Market, Inc. website (http://ir.thefreshmarket.com/).
View source version on businesswire.com: http://www.businesswire.com/news/home/20150901006644/en/
Contacts:
The Fresh Market, Inc.
Investor Relations
(336) 615-8065
investorrelations@thefreshmarket.com
Source: The Fresh Market, Inc.
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