Fairway Group Holdings Corp. Announces New Store Opening in Chelsea July 24 THE ICONIC GROCERY STORE TO OPEN ON SIXTH AVENUE AND WEST 26TH STREET IN MANHATTAN
NEW YORK, July 18, 2013 /PRNewswire/ -- Fairway Group Holdings Corp. ("Fairway") (NASDAQ: FWM), the parent company of Fairway Market, is opening a new 26,500 square foot store at 766 Sixth Avenue in Manhattan, New York on Wednesday, July 24, 2013. This store will be the seventh Fairway Market location in the city and the 13th across urban and suburban areas in New York, New Jersey and Connecticut.
"We're excited to make Chelsea our newest home and are very pleased to be creating more than 250 new jobs in the neighborhood," said Charles Santoro, Fairway Market's Executive Chairman. "We continue to believe our growth prospects are outstanding and our geographic footprint provides us with a significant runway for continued growth in our own backyard."
Similar to all Fairway Markets, the new store will offer an exceptional combination of traditional, organic and specialty foods, including daily-delivered produce, a best of the best kosher selection, the freshest seafood, custom-cut USDA prime meat, cheeses from around the world, a classic New York deli counter, and more.
"We look forward to providing customers a fabulous food shopping experience with fresh, natural, organic and conventional foods at great values," said Herb Reutsch, Chief Executive Officer of Fairway Market. "We are also eager to make an impact in the Chelsea community beyond just being a great grocer, but by being a great neighbor as well. We are committed to helping organizations that make a difference here."
About Fairway Market
Fairway Market is a high-growth food retailer offering customers a differentiated one-stop shopping experience "Like No Other Market". Fairway has established itself as a leading food retailing destination in the Greater New York City metropolitan area, with stores that emphasize an extensive selection of fresh, natural and organic products, prepared foods and hard-to-find specialty and gourmet offerings, along with a full assortment of conventional groceries. Fairway is headquartered in New York, New York.
Except for historical information contained herein, the statements in this release are forward-looking and make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995; Forward-looking statements involving known and unknown risks and uncertainties and other factors that may cause Fairway's actual results in current or future periods to differ materially from forecasted results. Food retail is a larger and highly competitive industry, and Fairway's business involves many risks and uncertainties, including, but not limited to: our ability to open new stores on a timely basis or at all; our ability to achieve sustained sales and profitable operating margins at new stores; the availability of financing to pursue our new store openings on satisfactory terms or at all; our ability to compete effectively with other retailers; our ability to maintain price competitiveness; the geographic concentration of our stores; our ability to maintain or improve our operating margins; our history of new losses; ordering errors or product supply disruptions in the delivery of perishable products; restrictions on our use of the Fairway name other than on the East Coast and in California and certain parts of Michigan and Ohio; our ability to retain and attract senior management, key employees and qualified store-level employees; rising costs of providing employee benefits, including increased healthcare costs and pension contributions due to unfunded pension liabilities; our ability to satisfy our ongoing capital needs and unanticipated cash requirements; and other risk factors detailed in our filings with the Securities and Exchange Commission ("the SEC"), and available at the SEC's website at www.sec.gov, You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE Fairway Market