PHOENIX, AZ – Sprouts Farmers Market has released its third quarter 2014 financial results.
The retailer saw adjusted net income of $27.4 million, a 21% increase over the same period in 2013, and adjusted EBITDA of $65.5 million, a 24% increase also over the same period in 2013.
"In a competitive environment, Sprouts is pleased to report another quarter of strong top-line growth with solid financial results," said Doug Sanders, President and CEO of Sprouts Farmers Market. "Our combination of healthy products at affordable prices, unparalleled customer service, and strong operational execution continues to separate Sprouts from the competition by meeting the needs of today's growing number of health conscious consumers.”
During the quarter, Sprouts opened 14 new stores, bringing the 2014 openings to 24. The retailer now has 191 stores in ten states and unit growth of 14% for the year, according to the report.
Other highlights from this strong Q3 include:
- Net sales of $766.4 million, a 21% increase from the same period in 2013
- Comparable store sales growth of 9.0% and two-year comparable store sales growth of 19.2%
- Net income of $26.1 million and diluted earnings per share of $0.17
- Adjusted diluted earnings per share of $0.18, a 38% increase from the same period in 2013
- $50 million voluntary pay down of term loan
As of 1:00 pm ET, Sprouts' stock price was up $0.42 at $31.70, a 1.34% increase.
Congratulations on the strong quarter, Sprouts!
