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Sprouts Farmers Market does not lose any speed in Q3
And the fourth quarter and full-year projects remain strong
1 Min Read
The Phoenix based specialty grocer on Wednesday reported net sales of $1.9 billion, a 14% year-over-year increase.Heather Lalley
Sprouts Farmers Market appears to be not slowing down anytime soon..
The Phoenix based specialty grocer on Wednesday reported net sales of $1.9 billion, a 14% year-over-year increase. Comparable-store sales rose 8.4% compared to the same period a year ago.
“We are driving robust traffic growth and continue to execute at a very high level,” Sprouts CEO Jack Sinclair said in a press release. “We remain confident in our long-term growth potential.”
For the rest of the fiscal year, Sprouts forecasted comparable-store sales growth to rise 8% to 10% year over year. Net sales and comparable-store sales growth for the full year are projected to increase 12% and 7% year over year, respectively.
Other highlights of Sprouts’ third quarter earnings include:
Nine stores were opened during the 13-week third quarter
Gross profit was just under $741 million, which is more than $75 million than Q3 2023
Net income was just under $301 million; a year ago it was under $209 million
Adjusted EBITDA (or earnings before interest, taxes, depreciation, and amortization) came in at over $122.45 million, more than $32 million higher than a year ago
Sprouts Farmers Market launched a private-label line of more than 130 premium body care, personal care, and home fragrance items in early October. The line is called Real Root by Sprouts.
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