Phoenix, AZ—Sprouts Farmers Market reported results for their third quarter 2019, ended September 29,in a press release.Highlights include:
  • Net sales of $1.4 billion, an 8% increase from the same period in 2018
  • Comparable store sales growth of 1.5% and two-year comparable store sales growth of 3%
  • Net income of $26 million, compared to $38 million from the same period in 2018
  • 9 new stores opened, for a total of 335 stores in 21 states
  • Diluted earnings per share of $0.22, compared to $0.29 in the same period in 2018
  • Gross profit of $477 million, an 8% increase
  • Increased distribution and transportation costs, combined with sharper promotions early in the quarter, resulted in a decreased gross profit margin
Related: Sprouts Foundation Announces $3M in Donations, National Day of Service UNFI Reports Fourth Quarter Growth Sprouts Opens New Store, Donates to Local Nonprofits
CEO Jack Sinclair said in the release: “Reflecting on my first 100 days at Sprouts, I am even more privileged to be part of this unique brand and excited about the opportunities that lie ahead. While we are in the early stages of assessing our strategy for long-term growth and value creation, I am encouraged by the commitment from the team and their dedication to improving the performance of the business.”