Fairway stock plummets following heavy Q1 loss

Fairway stock plummets following heavy Q1 loss

Stock in Fairway Group Holdings was down by more than 21% Wednesday following Tuesday evening’s announcement of quarterly losses and sales declines more severe than Wall Street had anticipated.

The company which operates New York’s Fairway Markets chain, lost $13.9 million in the quarter ended June 27, with sales of $198.3 million down 2.3% and comps down 5.3%. EBITDA of $9.1 million was down 8.2% and below consensus e

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