Fairway sales slide in Q4; smaller prototype announced

Fairway sales slide in Q4; smaller prototype announced

Fairway Group Holdings on Tuesday reported sales and earnings that missed expectations during the fiscal fourth quarter, citing decreased store traffic due in part to new competition and the effect of harsh winter weather on sales.

Sales of $199.1 million for the period were down by 0.6% while comps dipped 3.6% as a result of a 6.7% decline in transactions, offset by a 3.4% increase in average basket size.

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