Sprouts Farmers Market reports developments as a specialty grocery retailer focused on fresh, natural and organic food in the United States. Company updates commonly cover quarterly earnings, store openings and market expansion, merchandising and customer strategy, and a curated assortment of organic, gluten-free, plant-based and non-GMO products built around fresh produce.
News also includes management changes, investor conference appearances, supply-chain initiatives and sustainability-related projects tied to the retailer's operating footprint.
Sprouts Farmers Market (Nasdaq: SFM) will participate in the UBS 12th 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.
Sprouts Farmers Market, Inc. (Nasdaq: SFM) will release its financial results for the fourth quarter and fiscal year ended January 1, 2023, on March 2, 2023, before the market opens. A conference call with management is scheduled for 10:00 a.m. EST on the same day to discuss the results. Investors can access a live webcast at investors.sprouts.com. Replay of the call will be available at about 4:00 p.m. EST on March 2, 2023. Sprouts continues to grow as a leading specialty retailer of fresh and organic food.
Sprouts Farmers Market has launched its Rescued Organics program, aimed at reducing food waste and supporting local farmers, in all 130 California stores. The initiative offers discounted imperfect organic produce, which may be misshapen or have slight color variations but maintains high quality and nutritional value. This program addresses the issue of billions of meals worth of edible food being wasted annually, allowing customers to access organic produce at reduced prices while aiding farmer profitability. The program features 12 varieties, including potatoes, onions, and citrus fruits.
Local Bounti Corporation (NYSE: LOCL) has launched its new Asian Style Chicken Lettuce Wrap Kit, available at 194 Sprouts Farmers Markets in California and Arizona, as of January 16, 2023. This convenient meal kit includes sustainably grown living butter lettuce and is designed for quick preparation, taking only about five minutes. At 120 calories per serving, it aims to meet growing consumer demand for premium, healthy meals at home. Local Bounti emphasizes sustainability and aims to reduce food waste while providing high-quality ingredients.
Sprouts Farmers Market announced the appointment of Alisa Gmelich as Senior Vice President and Chief Marketing Officer, effective December 5, 2022. Reporting directly to President and COO Nick Konat, Gmelich will enhance the company's marketing strategy to drive customer engagement and expansion. With over 25 years of experience, including roles at Auntie Anne's and IHOP, she aims to strengthen Sprouts' brand connection with customers. The company operates approximately 380 stores across 23 states.
Sprouts Farmers Market is set to host a national hiring event on December 9 and 10 across its nearly 400 locations in 23 states. The event aims to fill various positions, including department managers and cashiers, from 9 a.m. to 6 p.m. Interested candidates can apply in-store or via text. Alongside competitive pay and a rewarding culture, Sprouts emphasizes its focus on fresh, organic products. The company, celebrating its 20th anniversary, continues to grow as a leading retailer of natural foods in the U.S.
Sprouts Farmers Market reported strong third-quarter results for the period ending October 2, 2022, with net sales of $1.6 billion, marking a 5% increase year-over-year. The company achieved a comparable store sales growth of 2.4% and a 9% rise in diluted earnings per share, reaching $0.61. Sprouts opened one new store, increasing its total to 379 locations. With a strong cash position of $316 million, the company projects a full-year sales growth of 4.5% to 5% and plans to open 16 new stores, reinforcing its commitment to healthy eating trends.
Sprouts Farmers Market is launching a partnership with DoorDash, adding nearly 380 stores for on-demand grocery delivery across the U.S., starting in Arizona. This collaboration allows customers to access thousands of fresh, organic products through the DoorDash app, with delivery options available immediately or scheduled. Sprouts is celebrating the launch with a promotional offer of 30% off for first-time customers on orders over $50 until November 24, 2022. This expansion aims to enhance customer access to healthy grocery options nationwide.