Fresh Market To Review Its Business, Including Possible Sale Of The Company

The Fresh Market Inc. said it will conduct a strategic review of its business, that could lead to a potential sale of the specialty grocery retailer. The company said it has retained J.P. Morgan Securities as its financial advisor. The company said that since it named Rick Anicetti its chief executive officer in September, it has been working on identifying opportunities to improve sales growth. "The Board of Directors has determined, consistent with its obligations to the Company and its stockholders and together with the work being done by management, that it is also prudent to conduct a strategic and financial review of the business focusing on the Company's and its stockholders' best interests," said Lead Independent Director Rich Noll. The stock, which is currently halted for news dissemination until 8:30 a.m. Eastern, had tumbled 34% year to date, while the S&P 500 has slipped 1.2%.