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Dec 31, 2023
Sprouts Q4 2023 Earnings Report
Sprouts' Q4 2023 performance demonstrated continued strength as a leading specialty grocer, exceeding original expectations with solid comparable sales, positive traffic, accelerating unit growth, and increasing customer engagement.
Key Takeaways
Sprouts Farmers Market reported an 8% increase in net sales, totaling $1.7 billion for the fourth quarter of 2023. Comparable store sales grew by 3.3%, and diluted earnings per share increased to $0.49.
Net sales totaled $1.7 billion, an 8% increase from the same period in 2022.
Comparable store sales growth was 3.3%.
Diluted earnings per share reached $0.49, compared to $0.42 in the same period in 2022.
Six new stores were opened during the quarter.
Sprouts
Sprouts
Forward Guidance
Sprouts provided its outlook for the first quarter and full year of 2024.
Positive Outlook
- Comparable store sales growth for Q1 2024 is expected to be between 2.5% and 3.5%.
- Adjusted diluted earnings per share for Q1 2024 are projected to be between $0.98 and $1.02.
- Net sales growth for the full year 2024 is anticipated to be between 5.5% and 7.5%.
- Comparable store sales growth for the full year 2024 is expected to range from 1.5% to 3.5%.
- Approximately 35 new stores are planned to open in 2024.