PHOENIX, AZ - October 1 of this year marked the end of Sprouts Farmers Market's third quarter of 2023. The retailer recently released its financial report for the 13-week period, revealing significant growth. Of particular interest was that net sales totaled $1.7 billion—a 7.6 percent increase from the same period in 2022.
"We are pleased to report another solid quarter at Sprouts, with continued increases in both traffic and comparable store sales," said Jack Sinclair, Chief Executive Officer. "Our results signal the alignment of our 31,000 team members across merchandising, marketing, supply chain, and operational initiatives—propelling our strategy forward."
Other highlights from Q3 2023 include:
- Comparable store sales growth of 3.9 percent
- Diluted earnings per share of $0.64; Adjusted diluted earnings per share of $0.65 compared to diluted earnings per share of $0.61 in the same period in 2022
- Opened 10 new stores, resulting in 401 stores in 23 states as of October 1, 2023
In terms of Sprouts' full-year 2023 outlook, highlights from the press release include:
- Net sales growth: 6.5 percent to 7 percent
- Comparable store sales growth: approximately 3 percent
- Adjusted EBIT: $387 million to $393 million
- Adjusted diluted earnings per share: $2.77 to $2.81
- Unit growth: 30 new stores
For more details from the report, check out the press release here. And keep reading AndNowUKnow to stay up to date with the industry's latest.
