Sprouts Farmers Stock Price, News & Analysis

Sprouts Farmers Market partners with Ancient Nutrition to support regenerative agriculture through the R.A.N.C.H. Project. This initiative aims to reduce greenhouse gases, divert food waste, and enhance carbon sequestration by employing sustainable farming practices in Tennessee and Missouri. Sprouts is actively contributing food waste for composting and feeding livestock on the project’s farms, with over 362,000 pounds of food waste diverted since May 2022. The collaboration emphasizes sustainability and aims to restore nutrient-rich topsoil while promoting well-being among customers.

Executives from both companies expressed excitement about their partnership, highlighting the environmental and economic benefits of regenerative agriculture.

Sprouts Farmers Market, Inc. (Nasdaq: SFM) will release its financial results for Q1 2023 on May 1, 2023, after market close. A conference call is scheduled for 5:00 p.m. EDT the same day to discuss these results with management. The call will be accessible via a webcast, which can be registered for ten minutes prior to start. A replay will be available approximately three hours after the call. Sprouts operates over 380 stores across 23 states, focusing on a unique grocery experience with fresh produce and healthy products.

On March 28, 2023, Sprouts Farmers Market (SFM) announced plans to eliminate single-use plastic bags by the end of 2023, aiming to remove over 200 million bags annually. The initiative, already implemented in 132 California stores, will expand to locations in Nevada, Utah, Maryland, Pennsylvania, and Virginia next month. Customers will be offered reusable plastic bags made from 40% post-consumer recycled material, designed for at least 125 uses. The company has also ceased providing paper bags due to their environmental impact. Customers can recycle soft plastics at Sprouts stores, with nearly one million pounds recycled in 2022.

Sprouts Farmers Market (Nasdaq: SFM) has acquired two independently owned stores in Chula Vista, California, that operated under its brand name. This acquisition grants the company full control over the stores, enhancing its presence in the San Diego market and allowing for further expansion opportunities in Southern California. The stores were not included in the company’s previous financial outlook. The acquisition follows a long-standing trademark license arrangement with a third-party operator, marking a unique development as no other licensed Sprouts stores exist. CFO Chip Molloy emphasizes the strategic significance of these stores for serving more customers.

Sprouts Farmers Market (Nasdaq: SFM) will participate in the UBS 12^th Annual Global Consumer and Retail Conference in New York City on March 15, 2023, at 10:00 AM EST. CEO Jack Sinclair and CFO Chip Molloy will conduct a fireside chat during the event.

A live webcast of the discussion will be available on Sprouts' Investor Relations website. Sprouts is known for its unique grocery offerings that emphasize fresh, organic, and natural products, and operates approximately 380 stores across 23 states, employing around 31,000 team members.

Meati Foods expands its retail partnership with Sprouts Farmers Market (NASDAQ: SFM), launching its animal-free protein products across approximately 380 locations in 23 states. Following a successful pilot in Colorado, the rollout includes various Eat Meati cutlets and steaks now available in the frozen section. Scott Tassani, president of Meati Foods, highlights the high demand and nutritional benefits of these products. This partnership signifies Meati's commitment to broader market availability while supporting sustainable food practices, with plans for a national omni-channel footprint by late 2023.

Sprouts Farmers Market reported strong fourth-quarter results for the 13-week period ending January 1, 2023, with net sales reaching $1.6 billion, a 6% increase year-over-year. Comparable store sales rose 2.9%, while diluted earnings per share jumped to $0.42 from $0.32 in the previous year. Over the fiscal year, net sales totaled $6.4 billion, up 5% from 2021. The company plans to open 30 new stores in 2023 but will close 11 underperforming stores. For the first quarter, comparable store sales growth is expected at 1.5%-2.5%, with adjusted diluted earnings per share projected between $0.83 and $0.87.