Fairway Market FWM IPO

Overview
For a grocery store, Fairway created a surprising amount of enthusiasm for their IPO which priced their $177M deal above the $10 to $12 filing range at $13. Post pricing the shares traded up over 30% to $17.50.

Fairway is NY area-based store chain that feels like Trader Joe's meets Whole Foods. It's a solid positioning with substantial if measured growth prospects.

Most would agree that Fairway presents a favorable experience much like Whole Foods (but cheaper) and Trader Joe's (with more selection.)

Fairway did $646M in annual sales for the period ended December . . .