30 Aug 2021
Posted in Business Fundamentals
Fresh Market ramps up hiring ahead of IPO, finds GlobalData
The Fresh Market Inc (Fresh Market) is hiring across its over 150 supermarkets in the US. The company is defining new business processes for pricing optimization, implementation of experience-based initiatives, and develop plans for high-quality restaurant meal replacement kits. Job postings increased from 849 jobs in January 2021 to 1,377 jobs in August 2021* at a time when the company is preparing for an IPO, observes GlobalData, a leading data and analytics company.
Fresh Market is gearing up for regulatory reporting including preparation of XBRL filing with SEC, a May 2021 listing for ‘Director of Accounting and Financial Reporting’ role shows. The incumbent is expected to have a five to seven years of experience in SEC reporting and will oversee the interpretation and implementation of new accounting standards.
Ajay Thalluri, Business Fundamentals Analyst at GlobalData, says: “Fresh Market is stepping up staffing requirements at its stores. In July, the company filed to raise US$100m in an IPO of its common stock to list on NASDAQ. The company is hiring significantly for front-end entry-level jobs across its deli, meat and seafood, bakery, grocery, and produce and floral departments.”
An analysis of GlobalData’s Job Analytics Database reveals that around 18% of total listings by Fresh Market between January 2021 and August 2021* are for meat and seafood department. Interestingly, 22% of total listings during the same period are for to staff its Deli stores that specialize in ready-to-cook meals. Listings for ‘Deli’ almost doubled from 175 jobs in January 2021 to 305 in August 2021*.
In July 2021, the company listed ‘Director, Product, Occasions & Meal Solution Marketing’ role for managing special occasions and meal solutions team that focuses on creating solutions that disrupt grocery industry.
Mr Thalluri concludes: “Fresh Market is developing long term capital and execution plan for new stores and refurbishment plan for existing portfolio, according to ‘Director Strategy Planning’ role. The company looks to maintain staffing levels across stores and looks to open new stores. Hiring momentum could remain with the company listing roles for talent recruiters and the imminent expansion likely post IPO.”
* Till 26 August 2021