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Mar 31, 2024
Sprouts Q1 2024 Earnings Report
Reported impressive financial results with strength in comparable store sales, traffic, and ecommerce.
Key Takeaways
Sprouts Farmers Market reported a 9% increase in net sales, reaching $1.9 billion, and a comparable store sales growth of 4.0%. Diluted earnings per share were $1.12. The company opened 7 new stores, bringing the total to 414 stores in 23 states.
Net sales totaled $1.9 billion, a 9% increase from the same period in 2023.
Comparable store sales growth was 4.0%.
Diluted earnings per share reached $1.12, compared to $0.73 in the same period in 2023.
Opened 7 new stores, resulting in 414 stores in 23 states as of March 31, 2024.
Sprouts
Sprouts
Forward Guidance
Sprouts Farmers Market provided outlook for the second quarter and full year of 2024.
Positive Outlook
- Comparable store sales growth: 3% to 4% (Q2 2024)
- Adjusted diluted earnings per share: $0.75 to $0.79 (Q2 2024)
- Net sales growth: 7% to 8% (Full Year 2024)
- Comparable store sales growth: 2.5% to 3.5% (Full Year 2024)
- Unit growth: Approximately 35 new stores (Full Year 2024)