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Jun 28, 2020
Sprouts Q2 2020 Earnings Report
Reported a strong second quarter performance driven by strategic changes and the continued positive impact on demand from the COVID-19 pandemic.
Key Takeaways
Sprouts Farmers Market, Inc. reported a 16% increase in net sales to $1.6 billion for the second quarter of 2020. Comparable store sales grew by 9.1%, and net income increased to $67 million, or $0.57 per diluted share.
Net sales increased by 16% to $1.6 billion compared to the same period in 2019.
Comparable store sales growth was 9.1%.
Net income was $67 million, compared to $35 million in the same period in 2019.
Diluted earnings per share were $0.57, compared to $0.30 in 2019.
Forward Guidance
As customers continue to consume much of their food at home due to the COVID-19 pandemic, grocery spend and ecommerce penetration have remained at elevated levels. For the month of July, our comparable store sales are estimated to increase approximately 9% compared to the same period last year, and ecommerce sales are estimated to represent approximately 11% of our net sales.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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