NEW YORK, Oct. 1, 2013 /PRNewswire/ -- Fairway Group Holdings Corp. ("Fairway") (NASDAQ: FWM), the parent company of the iconic New York grocery super store Fairway Market, will open a 53,000 square foot store in the DSW Plaza at 4000 Middle Country Road in Lake Grove Long Island, New York in Spring 2014. This store will be the first Fairway Market location in Suffolk County on Long Island and the 15th food store in the tri-state New York, New Jersey and Connecticut region.
"We're very excited to make Suffolk County our newest home and offer its residents what those in Nassau County, as well as in New York's five boroughs, Westchester County, New Jersey and Connecticut already have access to – Fairway's unprecedented array of traditional and specialty foods and groceries all under one roof and at great values," said Charles Santoro, Fairway Market's Executive Chairman. "The location is ideal; DSW Plaza is also home to such national names as Designer Shoe Warehouse, Toys R Us and Babies R Us, and it is directly across the street from the Smith Haven Mall, so it is right in the heart of Suffolk County."
"We have recently begun to renovate and remerchandise this shopping center and we are thrilled to have Fairway as our food anchor," said Sam Shalem, Chairman and CEO of Prestige Properties, the owner of the shopping center. "Our customer base is eagerly anticipating a Fairway of its own."
Similar to all Fairway Markets, the new store in Lake Grove 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 and 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 terrific prices," said Herb Ruetsch, Chief Executive Officer of Fairway Market. "We are also proud to be creating approximately 400 jobs at this location, and eager to make an impact in the Lake Grove and surrounding communities by being both a great food market and an active contributor to the surrounding communities."
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. We are committed to making a difference."
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.
Forward-Looking Statements
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 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.
SOURCE Fairway Market