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Jul 04, 2021
Sprouts Q2 2021 Earnings Report
Sprouts Farmers Market reported results for the second quarter ended July 4, 2021.
Key Takeaways
Sprouts Farmers Market reported a decrease in net sales by 7% compared to the same period in 2020, with net sales of $1.5 billion. Comparable store sales decreased by 10.0%. Net income was $61 million, and diluted earnings per share was $0.52.
Net sales of $1.5 billion; a 7% decrease from the same period in 2020.
Comparable store sales growth of -10.0%.
Net income of $61 million; compared to net income of $67 million in the same period in 2020.
Diluted earnings per share of $0.52; compared to $0.57 diluted earnings per share in the same period in 2020.
Sprouts
Sprouts
Forward Guidance
The company has adjusted its fiscal 2021 outlook, reflecting year-to-date performance and expectations for the remainder of the year.
Positive Outlook
- Unit growth: 13-20 new stores, subject to equipment delays
Challenges Ahead
- 52-week to 52-week Net sales growth: Down low single digits
- Comparable store sales growth: (5.0%) to (7.0%)
- Adjusted EBIT: $305M to $325M
- Adjusted diluted earnings per share: $1.90 to $2.02
- Effective tax rate: Approximately 25%