After, last month, announcing a spate of new store openings to take place in 2019, Sprouts has returned to the present to report on its third quarter fiscal 2018. The result of the 13-week period ending September 30, 2018, were impressive—boasting double-digit net sales and net income growth.
“Robust new store productivity, continued product innovation, and strong operations drove a double digit increase in net sales in the third quarter,” said Amin Maredia, Chief Executive Officer. “During this time, we introduced Sprouts’ unique model of health, value, and service to two new states where very strong sales demonstrated that our brand continues to resonate well in communities from coast to coast and is firmly positioned for long-term growth.”
Highlights from the company’s Q3 include:
The company affirmed its net sales guidance, narrowing its projected comparable store sales growth from 1.5%-2.5% to 1.7%-2.0%, boosting its diluted earnings per share of $1.24-$1.28 to $1.28-$1.30, and lowering its projected capital expenditures from $165-$170 million to $160-$165 million.