Fairway IPO Announced Today, Could Be Higher Than Whole Foods'
Fairway Market will go public today and could soon be worth more than fancy-food competitor Whole Foods. Bloomberg reports that the supermarket chain's IPO is scheduled to be $453.6 million. The company, which currently has 12 stores throughout the East Coast and aims to expand to more than 300 shops throughout the country, raked in $554.9 million in sales last year--which is a whole lot of groceries. The market's financial success comes on the heels of its triumphant reopening in Red Hook following the flooding and destruction of Hurricane Sandy. [Bloomberg]