Fairway shrinks net loss for Q1
NEW YORK — Fairway Group Holdings Corp., the parent company of Fairway Market, shrank net loss to $9.7 million in first quarter fiscal 2015, compared with $27.95 million in the same quarter the prior year. Declining general and administrative expenses, resulting from the elimination of IPO- and consultant-related fees from the first quarter of fiscal 2014, helped reduce net loss.
Fairway Group plans to open a new 50,000-sq.-ft. Fairway Market store in the Staten Island Mall in Staten Island, N.Y., by the end of 2017. The store is a key part of the mall’s expansion plans.
Net sales increased 6.2%, to $198.3 million from $186.8 million in the first quarter of fiscal 2014. Net sales growth in the quarter was attributable to two new stores, partially offset by negative same store sales growth of 1.7%.
SafeHands preps for new school year
BOCA RATON, Fla. — SafeHands, an alcohol-free hand sanitizer company, announced that it will offer back-to-school "buy one, get one free" coupons, providing savings for teachers who want to eliminate germs in their classrooms this fall.
The active ingredient in SafeHands is benzalkonium chloride, the same ingredient found in mouthwash and eye drops. The product has shown in numerous studies to have the same efficacy against germs as alcohol, according to the company. The coupons are redeemable at local Walgreens, Albertsons, Safeway and online.
Canada’s London Drugs to celebrate Vinyl Record Day
RICHMOND, B.C. — In celebration of Vinyl Record Day on Aug. 12, which marks the day Thomas Edison invented the phonograph in 1877, Canadian retailer London Drugs is joining the party.
London Drugs is the first large retailer to offer a vast collection of vinyl, and has expanded its collection to hundreds of titles over the last few years. The chain has become a go-to location for vinyl enthusiasts and has seen the audience for vinyl double over the last four years. The audience now includes younger fans who are just now experiencing vinyl records for the first time, as well as older fans who grew up on vinyl LPs and have once again discovered them.
Vinyl sales in the United States have grown by around 40% the first half of 2014 compared with the same time frame in 2013.
"These statistics reveal a telling story — that vinyl records are no longer just a blast from the past," said Andy Kahrmann, business unit manager at London Drugs. "We are seeing new generations discover vinyl for the first time, and at the same time we have long-time vinyl enthusiasts rediscovering the world of vinyl."
London Drugs is inviting vinyl enthusiasts across Western Canada to celebrate Vinyl Record Day on Aug.12 at any store location. Stores will be participating by spinning vinyl and providing sales discounts on various items. In addition, customers will be given a party kit checklist in preparation of their own Vinyl Record Day celebrations.
London Drugs has 79 stores in more than 35 major markets throughout British Columbia, Alberta, Saskatchewan and Manitoba.