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Sprouts Farmers Market Reports 1.9B Net Sales in Q1 Results; Jack Sinclair Discusses

Sprouts Farmers Market Reports 1.9B Net Sales in Q1 Results; Jack Sinclair Discusses


PHOENIX, AZ
Monday, May 6th, 2024

The latest growth update from Sprouts Farmers Market has trickled in, revealing another strong quarterly performance for the natural and organic supermarket chain. Sharing its latest financial report, the company unveiled net sales of $1.9 billion for Q1.

Jack Sinclair, Chief Executive Officer, Sprouts Farmers Market"We were pleased with our impressive financial results this quarter, with strength in comparable store sales, traffic, and e-commerce," said Jack Sinclair, Chief Executive Officer of Sprouts Farmers Market. "These outcomes highlight the effectiveness of our strategy and the exceptional execution by our team members across the country. We are reinforcing our position as a leading specialty food retailer as we build new stores in line with our growth plans.”

This $1.9 billion in net sales represents a 9 percent increase from the same period in 2023, according to a press release.

In the grocer’s latest financial update, Sprouts revealed that its net sales for the quarter rose to $1.9 billionThe financial report covers the 13-week first quarter ended March 31, 2024. Other highlights showcasing the chain’s ongoing growth include:

  • Opened seven new stores, resulting in 414 stores in 23 states as of March 31, 2024
  • Comparable store sales growth of 4 percent
  • Diluted earnings per share of $1.12; compared to diluted earnings per share of $0.73 and Adjusted diluted earnings per share of $0.98 in the same period in 2023

To dig further into these results, click here.

DMN will continue to relay the latest financial reports and strategic updates, so stick around for more insights.

Sprouts Farmers Market
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