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Jun 30, 2024
Sprouts Q2 2024 Earnings Report
Sprouts reported outstanding second quarter results, driven by exceptional teamwork and strategic focus.
Key Takeaways
Sprouts Farmers Market reported a 12% increase in net sales, totaling $1.9 billion, and a comparable store sales growth of 6.7%. Diluted earnings per share were $0.94, and the company opened 5 new stores, bringing the total to 419 stores in 23 states.
Net sales totaled $1.9 billion, a 12% increase from the same period in 2023.
Comparable store sales growth was 6.7%.
Diluted earnings per share reached $0.94, compared to $0.65 in the same period in 2023.
The company opened 5 new stores, resulting in 419 stores in 23 states as of June 30, 2024.
Sprouts
Sprouts
Forward Guidance
Sprouts provided outlook for Q3 2024 and full year 2024.
Positive Outlook
- Comparable store sales growth: 3.5% to 4.5% (Q3 2024)
- Net sales growth: 9% to 10% (Full-Year 2024)
- Comparable store sales growth: 4% to 5% (Full-Year 2024)
- Unit growth: Approximately 35 new stores (Full-Year 2024)
Challenges Ahead
- Adjusted diluted earnings per share: $0.71 to $0.75 (Q3 2024)
- Adjusted EBIT: $445 million to $455 million (Full-Year 2024)
- Adjusted diluted earnings per share: $3.29 to $3.37 (Full-Year 2024)
- Capital expenditures (net of landlord reimbursements): $225 million to $245 million (Full-Year 2024)