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SOURCE Fairway Group Holdings Corp.
THE ICONIC GROCERY STORE IS A KEY ANCHOR OF THE SHOPS AT NANUET IN ROCKLAND COUNTY, NY
NEW YORK, Oct. 3, 2013 /PRNewswire/ -- Fairway Group Holdings Corp. ("Fairway") (NASDAQ: FWM), the parent company of Fairway Market, is opening a 65,000 square foot store at 75 West Route 59 in Nanuet, New York, on Thursday, October 10, 2013. This location, the 14th food store for the company and the first in Rockland County, will be an anchor of The Shops at Nanuet, a new 50-shop open-air center opening the same day.
"We're excited to make our newest home at this premier shopping destination in Nanuet and are also very pleased to be creating more than 300 new jobs in the area," said Charles Santoro, Fairway Market's Executive Chairman.
He added that Fairway is also pleased to be furthering its expansion plan, noting that "our growth prospects remain very strong and our geographic provides us with a significant runway for continued expansion in our own backyard."
Similar to all Fairway Markets, the new store in Nanuet will offer an exceptional combination of traditional, organic and specialty foods chosen from its comprehensive selection of approximately 70,000 SKUs across its store network, including daily-delivered produce, a best of the best kosher selection, the freshest seafood, custom-cut USDA prime meat, on-the-premises bakery, cheeses from around the world, a classic New York deli counter, and much more.
"We look forward to providing customers a fabulous food shopping experience with fresh, natural, organic and conventional foods at great values," said Herb Ruetsch, Chief Executive Officer of Fairway Market. "We are also eager to make an impact in Rockland County beyond just being a great food market. We are always committed to helping organizations that make a difference in our local communities."
"We are delighted to have Fairway Market join our impressive tenant line-up," said David J. Contis, president of Simon Malls, a division of Simon Property Group, the owner, developer and manager of The Shops at Nanuet. "The addition of Fairway Market is a key component to providing our customers multiple reasons to visit The Shops at Nanuet, including being able to shop for groceries, go to a movie or the health club, shop in our fine stores, or dine in one of our many restaurants."
Howie Glickberg, vice chairman of development, added that "from the time Fairway was established 80 years ago, we have worked each and every day to live the words of our slogan – 'Like No Other Market' – in both our stores and in the neighborhoods in which we are located."
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. See www.fairwaymarket.com for more information.
Except for historical information contained herein, the statements in this release are forward-looking and made 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 large 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 net 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 (" 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.
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