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Huge Crowds Welcome Fairway Market To Suffolk County
THE ICONIC NYC GROCERY STORE OPENS IN DSW PLAZA IN LAKE GROVE ON JULY 23, 2014
PARTNERSHIP WITH FAIRWAY MORTGAGE CORP. ANNOUNCED AT GRAND OPENING TO GIVE AWAY HOUSE TO A DISABLED IRAQ/AFGHANISTAN WAR VETERAN ON LONG ISLAND

PR Newswire

NEW YORK, July 23, 2014

NEW YORK, July 23, 2014 /PRNewswire/ -- Throngs of people lined up today for the opening of Fairway Market (NASDAQ: FWM) at DSW Plaza, 3200 Middle Country Road in Lake Grove, Long Island, New York. The 50,000 square foot store is the first Fairway Market location in Suffolk County on Long Island and the company's 15th food store in the New York, New Jersey, Connecticut tri-state 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, Executive Chairman of Fairway Market. "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."

Santoro also announced that Fairway Market is joining forces with Fairway Independent Mortgage Corp. to help raise funds for a mortgage -free home give-away for a returning wounded or disabled Iraq and Afghanistan war veteran on Long Island. On Wednesday, July 30, a Shopping Night will be held in the store in which 25% of all proceeds from sales will go directly to the effort.

Joining Fairway Market executives at the ribbon-cutting ceremony were New York State Senator John Flanagan, Robert Scottaline, Mayor of Lake Grove, Michael Fitzpatrick, State Assemblyman, Edward Romaine, Brookhaven Town Supervisor, Valerie Cartright, Brookhaven Councilwoman, Thomas Climini, Suffolk County Legislator, Angie Carpenter, Suffolk County Treasurer, and Tom Ronayne, Director of Veterans Affairs for the Suffolk County Executive's Office, among other dignitaries.

Sam Shalem, Chairman and CEO of Prestige Properties, the owner of the DSW Shopping Center, welcomed Fairway Market to Lake Grove.

"We are thrilled to have Fairway as our food anchor," said Shalem. "Our customer base has been eagerly anticipating a Fairway of its own."

Similar to all Fairway Markets, the new store in Lake Grove offers 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 Bill Sanford, Fairway's Interim Chief Executive Officer. "We are also proud to be creating approximately 250 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 MarketFairway 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 StatementsExcept 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.

SOURCE Fairway Market