Lactose-Free Bries
If you have the sandwich, we have the sauce.
Sprouts Farmers Market Reports Q3 Sales Data as Strategies Strengthen

Sprouts Farmers Market Reports Q3 Sales Data as Strategies Strengthen


PHOENIX, AZ
Monday, November 7th, 2016

Sprouts Farmers Market has released another successful financial report as it ended its 13-week third quarter, showing a massive 15 percent increase in sales over last year. With net sales topping out at $1 billion, CEO Amin Maredia attributes the success with an increase in focus on fresh offerings, as well as an expansion in the number of store locations.

Amin Maredia, CEO and Director, Sprouts Farmers Market

“The Sprouts team delivered 15 percent sales growth, strong new store performance, and our 38th consecutive quarter of positive same store sales, all despite a highly deflationary and competitive environment,” explained Maredia. “The core fundamentals of our business remain strong, and we continue to prioritize product innovation, investing in our team members and infrastructure for scale, and enhancing the customer experience both in and out-of-store.” 

In a call with investors, Maredia cited that fresh sales are nearly 60 percent of the company’s business, and is on-trend, drives frequency, and adds strength to Sprout’s business model as a whole. Just this year, the company has implemented fresh food and deli expansions in 73 new and existing stores, with a few more on the horizon to go during the balance of the year. This expansion includes a freshly prepared protein and sides full-service case, a salad bar, fresh juices, and a soup station.

Content from Google Stocks

“I recently reviewed the plans for 2017 and I'm excited about adding our food and deli initiative to more existing and new stores and also leveraging this platform to enhance our fresh offering even further,” Maredia told investors in a conference call. “Our vendor partners have enabled us to build and broaden our partnerships and also launch new unique and exciting products and programs like a Hatch Chili program released earlier this summer, and new holiday items like chipotle cranberry salsa and dark chocolate drizzled kettle corn.”

In addition to highlighting the company’s forays into fresh, third quarter highlights from the company report include: 

  • Comparable store sales growth of 1.3 percent and two-year comparable store sales growth of 7.5 percent
  • Net income of $24 million and diluted earnings per share of $0.16
  • Net income decreased $8 million from the same period in 2015, and $9 million from adjusted net income
  • Diluted earnings per share decreased $0.05 from diluted and adjusted diluted earnings per share in the same period in 2015
  • Raising the bottom of full-year comparable store sales growth from 1.5 percent to 2.0 percent 

Sprouts has added ten new stores in its third quarter, with an additional three scheduled in the fourth quarter. Maredia confirmed that the company remains on track for a total count of 253 stores by year end, and is still set to enter new states Florida and North Carolina in 2017.

Sprouts Farmers Market

In This Story


At Sprouts, we believe healthy living is a journey and every meal is a choice. We love to inspire, educate and empower every person to eat healthier and live a better life. This isn't just a...



Lactose-Free BriesIf you have the sandwich, we have the sauce.

Have a new product, press release or story idea?

Let us know

Vienna® Beef Celebration Marks 125 Years as Chicago’s Favorite Hot Dog

Iconic hot dog brand welcomes governor and community for a Chicago-Style party.
View Press Release

Moo've Over, Yogurt: Kansas State University Students Win First Place in Dairy Council's New Product Competition

A new creamy protein-rich dairy drink has Kansas State University success written all over it.
View Press Release

Inc. Magazine Unveils Its 37th Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000

For the 8th Time, Hissho Appears on the Inc. 5000, Ranking No. 3893. With Three-Year Revenue Growth of 91.7 Percent
View Press Release

WCMA Adds Staff as Member Services Expand

The association has welcomed Sara Schmidt as its new Office and Member Service Coordinator, working to support WCMA’s expanded array of benefits to member organizations.
View Press Release

Now It's Official! Flow is a Business Doing Good

BeeInventive, the company behind the multiple award-winning “honey on tap” FlowHive, is now a Certified B CorporationⓇ.
View Press Release

Hissho Among 2018 Middle Market Leaders

Hissho has just been named #8 among the 2018 Middle Market Leaders honorees by Charlotte Business Journal.
View Press Release

Halton Group Acquires U.S. Indoor Air Equipment Manufacturer

The acquisition makes the company a part of Halton's Foodservice business that specializes in professional kitchen environments.
View Press Release

Olive Oil Commission of California to Hold Workshops on Producing, Evaluating, and Protecting Olive Oil Quality

The goal of these workshops is to discuss the California Department of Food and Agriculture (CDFA) standards for Extra Virgin Olive Oil and to educate all sectors of the olive oil supply chain on best practices.
View Press Release