Sprouts Farmers Market said it expects to report a 26% increase in sales for the fiscal first quarter, which ends March 30.
The Phoenix-based retailer said sales of approximately $720 million will be driven by comparable-store sales growth estimated at 12.5% for the quarter.
The company said it expected gross margins to improve slightly to 30.5% to 31% of sales, versus 30.3% for the same period a year ago.
The figures were released as Sprouts’ majority owner, Apollo Capital Management, commenced the sale of 15 million shares of company stock. Shares were up by more than 3% in trading early Wednesday.
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