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.
“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.
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:
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.