PHOENIX, AZ - Sprouts Farmers Market has announced that it will open 27 new stores and expand into three states this year.
Doug Sanders, President and Chief Executive Officer of Sprouts Farmers Market said, "We remain excited about our new opportunities in 2015, including innovation in our private label, the ongoing testing of our new deli offerings, sales initiatives, and the opening of 27 new stores which includes our expansion into three new states."
The company also has its reported results for its Q1 2015, with net sales reaching $857.5 million, a 19% increase over Q1 2014. Net sales growth has been attributed to strong performance in new stores opened and a 4.8% increase in comparable store sales growth.
"Sprouts continues to be well positioned for today's growing number of health conscious consumers who are looking to eat healthier at affordable prices. In the first quarter, top-line sales growth remained strong for Sprouts, despite a difficult produce season, resulting in 32 consecutive quarters of positive comparable store sales growth," said Sanders.
Other highlights from the report include:
- Net sales of $857.5 million; a 19% increase from the same period in 2014
- Comparable store sales growth of 4.8% and two-year comparable store sales growth of 17.6%
- Net income of $37.5 million and diluted earnings per share of $0.24
- Adjusted net income of $38.6 million; a 9% increase from the same period in 2014
- Adjusted diluted earnings per share of $0.25; a 9% increase from the same period in 2014
- Adjusted EBITDA of $84.3 million; a 9% increase from the same period in 2014
Stay tuned for additional information on the new Sprouts locations.
