Welcome to our dedicated page for Sprouts Farmers Market news (Ticker: SFM), a resource for investors and traders seeking the latest updates and insights on Sprouts Farmers Market stock.
Sprouts Farmers Market, Inc. (SFM) offers a unique grocery shopping experience designed to make healthy living easy and affordable. With bright and cheerful neighborhood stores, Sprouts combines the charm of old-fashioned farmers markets with the convenience of modern shopping. Customers will find a vibrant array of fresh, natural, and organic foods, including mountains of colorful fruits and vegetables, barrels of wholesome grains, nuts, and sweets, as well as full-service deli, meat, and seafood counters featuring handmade burgers and sausages.
The company boasts approximately 407 stores across 23 states in the United States, making it one of the largest and fastest-growing specialty retailers in the nation. Sprouts' open layout seamlessly integrates fresh produce at the heart of each store, complemented by spacious, low-profile aisles. Shoppers can explore an extensive selection of fresh baked goods, ready-to-eat meals, gourmet cheeses, sensibly-priced vitamins and supplements, and thousands of natural, organic, and gluten-free groceries.
Sprouts inspires wellness naturally by offering a carefully curated assortment of better-for-you products. The company continues to innovate with new products featuring lifestyle-friendly ingredients such as organic, plant-based, and gluten-free options. The passionate and purpose-driven team at Sprouts is committed to providing exceptional customer service and fostering a welcoming atmosphere for all shoppers.
In recent news, Sprouts Farmers Market was highlighted for being a significant tenant in the Rillito Crossing Marketplace acquisition by Prairie Hill Holdings. This 96,424 sq ft shopping center in Tucson, AZ, was acquired for $27.5 million and is anchored by a Sprouts store. This acquisition is part of Prairie Hill's strategy to capitalize on favorable retail property fundamentals and expand its portfolio of high-quality, high-yielding commercial real estate assets.
Sprouts Farmers Market has announced a multi-year sponsorship agreement with the Southeastern Conference (SEC) and SEC Network, making it the 'Official Grocer of the SEC.' The sponsorship begins on July 1 and emphasizes women's sports and championships, including basketball, gymnastics, and softball. The partnership integrates Sprouts into SEC Network programming and live events, aiming to promote healthier lifestyles and support equity in women's sports. Sprouts will also sponsor the Sprouts Farmers Market Collegiate Quad, an ESPN-owned gymnastics invitational, which had a successful first year and promises to grow further.
The Sprouts Healthy Communities Foundation has announced a $3M funding opportunity for local organizations that advance nutrition education, access, and wellness. The foundation aims to support approximately 300 local programs, each receiving grants between $5,000 to $10,000. The initiative includes funding categories such as school gardens, children's nutrition, and adult wellness programs. The deadline for application is July 15, 2024. The foundation, since 2015, has awarded over $20M in grants, impacting around 3 million children annually. CEO Jack Sinclair and Executive Director Lyndsey Waugh emphasize the foundation's commitment to community health.
Sprouts Farmers Market (Nasdaq: SFM) announced a new $600 million share repurchase program authorized by its Board of Directors on May 22, 2024. This program replaces the current one, which had nearly $120 million remaining. Shares may be bought on a discretionary basis through various methods, including open market purchases and privately negotiated transactions. The program is flexible, allowing for commencement, suspension, or discontinuation anytime, and it expires on May 22, 2027. CFO Curtis Valentine stated that the program highlights the company's strong cash flow and the Board's confidence in its strategy and growth potential.
Sprouts Farmers Market, Inc. (Nasdaq: SFM) reported strong financial results for the first quarter of 2024, with net sales totaling $1.9 billion, a 9% increase from the same period in 2023. The company saw a 4.0% growth in comparable store sales and reported diluted earnings per share of $1.12. Sprouts also opened 7 new stores during the quarter, bringing the total to 414 stores in 23 states. The company ended the quarter with $312 million in cash and cash equivalents and provided outlook for the second quarter and full-year 2024.
Sprouts Farmers Market released its 2023 Impact Report highlighting its commitment to Impactful Products, Thriving Planet, Purposeful People, and Healthy Communities. The report showcases achievements in sales of healthy products, sustainability goals, employee development, and community support.
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