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Sprouts Farmers Market Reports Strong Second Quarter 2017 Financial Results

Sprouts Farmers Market Reports Strong Second Quarter 2017 Financial Results


PHOENIX, AZ
Thursday, August 3rd, 2017

As the company hones in on its strategy of rapid store growth, new products, online engagement, and more, Sprouts Farmers Market has reported that the moves have translated to dollar signs. Reporting its Q2 2017 financial results, the company has announced a 15% increase in its net sales and 10% increase in net income over last year.

Amin Maredia, CEO and Director, Sprouts Farmers Market“Sprouts’ accelerating comp sales and strong top-line growth during this competitive grocery environment demonstrates the power of our brand,” said Amin Maredia, Chief Executive Officer. “Strategic initiatives focused on product innovation, online customer engagement, and knowledgeable customer service are driving new store productivity and customer loyalty.”

In recent months, Sprouts has been making improvements to many of the areas Maredia mentioned, including expanding its online engagement through growing its partnership with Amazon Prime delivery, adding upwards of 13 new store locations, expanding its fresh distribution footprint through a new facility with Americold, and, as we reported on our sister site, adding 2,000+ new employees in order to further enhance customer service.

Sprouts Storefront

And if you take a deeper look at the numbers, the strategies seem to be making an impact. Other highlights of Sprouts Q2 financial report include:

  • Net sales of $1.2 billion; a 15% increase from the same period in 2016
  • Comparable store sales growth of 1.4% and two-year comparable store sales growth of 5.5%
  • Net income of $41 million; a 10% increase from the same period in 2016
  • Diluted earnings per share of $0.29; a 16% increase from the same period in 2016
  • Increased full-year sales, comps and EPS guidance for 2017

Will these improved performance make Sprouts an even more attractive acquisition target as it continues on through its 2017 financial year? Deli Market News will keep you updated.

Sprouts Farmers Market