Sprouts Announces Fourth Quarter Growth

Phoenix, AZ—Sprouts Farmers Market, Inc., has reported its fourth quarter and full year 2018 results in a press release.

The fourth quarter saw net sales of $1.3 billion, an 11% increase from the same period in 2017; comparable store sales growth of 2.3% and two-year comparable store sales growth of 6.9%, and higher adjusted diluted earnings per share and adjusted net income from the same period in 2017.

Full fiscal year 2018 highlights included a 12% increase in net sales from 2017, an adjusted net income of $168 million compared to 2017’s $140 million, and an investment of $258 million in repurchased common shares.

Brad Lukow, interim co-CEO and CFO of Sprouts, said in the press release, “Sprouts delivered 12% net sales growth for the year in a competitive and evolving industry, demonstrating the strength of our differentiated model and brand. Through our solid operating cash flows, we continue to self-fund our store unit growth and strategic initiatives and, in keeping with our capital structure strategy, returned more than $250 million to our shareholders through share repurchases in 2018.”

Jim Nielsen, interim co-CEO, president and COO of Sprouts said in the release, “Our focus on health, value, selection and service continues to produce solid financial returns, supporting our ongoing expansion that allows Sprouts to reach new customers and markets, positioning us well for long-term growth. We remain focused on building upon our strategic initiatives in people, systems, and product innovation to drive continued enhancements to our experience, reinforcing Sprouts as a trusted brand for health and value.”

More information can be found here.