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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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