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 reported strong third-quarter results for the period ending October 2, 2022, with net sales of $1.6 billion, marking a 5% increase year-over-year. The company achieved a comparable store sales growth of 2.4% and a 9% rise in diluted earnings per share, reaching $0.61. Sprouts opened one new store, increasing its total to 379 locations. With a strong cash position of $316 million, the company projects a full-year sales growth of 4.5% to 5% and plans to open 16 new stores, reinforcing its commitment to healthy eating trends.
Sprouts Farmers Market is launching a partnership with DoorDash, adding nearly 380 stores for on-demand grocery delivery across the U.S., starting in Arizona. This collaboration allows customers to access thousands of fresh, organic products through the DoorDash app, with delivery options available immediately or scheduled. Sprouts is celebrating the launch with a promotional offer of 30% off for first-time customers on orders over $50 until November 24, 2022. This expansion aims to enhance customer access to healthy grocery options nationwide.
Sprouts Farmers Market (Nasdaq: SFM) will release its third-quarter financial results on November 8, 2022, after the market closes. A conference call to discuss these results will take place at 3:00 PM MST (5:00 PM EST) on the same day. The call will be accessible via webcast, and a replay will be available a few hours after the live event. Sprouts operates around 380 stores across 23 states, employing approximately 31,000 team members and celebrating its 20th anniversary this year.
Sprouts Farmers Market has announced new sponsorship agreements with Arizona State University, UCLA, USC, and the University of Texas, enhancing its commitment to women's athletics. These partnerships will support season-long activities and sponsor one female student-athlete from each school. CEO Jack Sinclair emphasized the focus on empowering women's health and performance through nutritious food options. This announcement aligns with Sprouts' recent initiatives in women's sports and its 20-year anniversary, enhancing its brand visibility and community engagement.
Sprouts Farmers Market reported a strong second quarter for the period ending July 3, 2022, achieving net sales of $1.6 billion, a 5% increase from 2021. Comparable store sales rose by 2.0%, and diluted earnings per share reached $0.57. The company opened 2 new stores while closing 3, bringing the total to 378 stores across 23 states. For full-year projections, Sprouts anticipates 4.0% to 5.0% net sales growth and adjusted diluted earnings per share between $2.18 and $2.26. The company ended the quarter with $289 million in cash.
Sprouts Farmers Market (SFM) will release its second-quarter financial results on August 3, 2022, post-market. A conference call led by management will follow at 2:00 PM PDT to discuss the results. Interested participants can access the audio replay via phone starting at 5:00 PM PDT on the same day. Sprouts, headquartered in Phoenix, is recognized as one of the largest specialty retailers of fresh, natural, and organic food in the U.S., operating approximately 380 stores across 23 states.
Sprouts Farmers Market celebrates the 50th anniversary of Title IX by supporting women's athletics through 50 NIL deals with female collegiate athletes from the Big 12 and Pac-12 Conferences. This initiative marks Sprouts as the first grocery retailer to invest in such partnerships, emphasizing their commitment to women's health and performance. Alongside softball icon Jennie Finch, Sprouts aims to empower athletes by providing fresh, nutritional food options. The announcement aligns with the ongoing efforts to enhance gender equality in sports.
Sprouts Farmers Market has announced it will accept EBT SNAP benefits for online shopping across approximately 380 stores. This initiative, enabled by a recent USDA approval, allows customers to use their EBT cards for same-day delivery and curbside pickup through Instacart. The expansion aims to enhance accessibility and affordability of fresh foods for all shoppers. Customers can enter their EBT details online but will need an additional payment method for non-food items. This move aligns with Sprouts' mission to make healthy groceries accessible to more families.
Sprouts Farmers Market (Nasdaq: SFM) has appointed Hari Avula to its board of directors. Avula, previously of Clif Bar, brings significant financial expertise, having also held senior roles at Walgreens and PepsiCo. CEO Jack Sinclair expressed confidence that Avula's strategic experience will be crucial as the company grows. Avula aims to enhance Sprouts' mission of promoting healthy living options. Sprouts operates around 380 stores across 23 states and is recognized for its commitment to natural and organic products.
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