The Fresh Market Rings In IPO
Craig Carlock, president and CEO of The Fresh Market Inc. paid a visit NASDAQ MarketSite in New York’s Times Square on Nov. 9 to preside over the opening of the NASDAQ Stock Market, in celebration of the Greenboro, N.C.-based company's initial public offering on the exchange.
Accompanying Carlock were members of the company's management team as well as store managers Mark Horney and Ovidio Cuervo, and training and development specialist Richard Segee. The latter three represented all of The Fresh Market’s employees during the ringing of the stock market opening bell at 9:30 a.m.
"The Berry family, The Fresh Market's founders, had the vision to see that people desired and deserved better-quality, fresher food, paired with excellent service and an atmosphere that makes shopping for that food a pleasurable and satisfying experience," noted Carlock on the occasion of this company milestone. "Our more than 7,500 employees -- at each of our 100 stores and in our offices -- work hard every day to provide our customers with amazing products and exceptional customer service. The success of our company is a result of our founders' dream and our employees’ dedication to turning that dream into reality every day."
Originally priced at $22, The Fresh Market’s stock opened at $35 a share on the Nasdaq Composite Index on Nov. 5, a 59 percent increase and this year’s second-largest first-day gain for an IPO by a U.S. company, according to stock market opinion and analysis website Seeking Alpha. The grocer originally revealed its intent to file an IPO in May.
A live webcast of the NASDAQ Opening Bell can be found at www.nasdaq.com/about/marketsitetowervideo.asx
The Fresh Market operates 100 stores in 20 Southeast, Midwest, Mid-Atlantic, and Northeast states, with plans for further expansion throughout the country.