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 (SFM) reported a 4% decline in Q3 2021 net sales, totaling $1.5 billion, driven by a 5.4% drop in comparable store sales. Despite this, net income rose to $64 million, up from $60 million YoY. Diluted earnings per share increased to $0.56 from $0.51 in 2020. The company opened three new stores but faces supply chain delays impacting planned openings. For Q4 2021, SFM projects net sales between $1.45B and $1.475B, with comparable store sales expected to decline by 3% to 5%. Cash reserves stand at $260 million with ongoing share repurchases.
Sprouts Farmers Market has enhanced its offerings for the holiday season, allowing customers to pre-order turkeys and holiday meats until November 22. Store hours during the holidays will vary, with Thanksgiving Day hours from 7 a.m. to 4 p.m. Customers can also place delivery and curbside pickup orders starting November 14. The company features better-for-you options, including organic turkeys and prepared meals. Unique holiday products such as gluten-free stuffing and specialty cheeses are also available, promising a festive and healthy holiday experience.
Sprouts Healthy Communities Foundation announced $3 million in grants to 115 nonprofit organizations across 23 states, enhancing school garden learning and nutrition education. Since 2015, the Foundation has allocated $15 million to over 300 partners, positively impacting 1.5 million children. In 2021, approximately $2.2 million will support community food systems, with 70 programs benefitting more than 600,000 people. Initiatives include apprenticeship programs and family gardening activities, fostering healthier lifestyles.
Sprouts Farmers Market is hosting a wellness livestream on October 20, 2021, focusing on anxiety, inflammation, and immune support. Led by Emmy Award-winning journalist Maria Menounos, the event will feature health experts including Candice Kumai and Jordan Rubin. Attendees can engage in interactive polling and win giveaways such as a $2,500 grocery gift card and Instacart memberships. The event coincides with Sprouts' vitamin sale from October 20-26, where all vitamins are 20% off. Registration is free via Sprouts' website.
Sprouts Farmers Market, Inc. (SFM) has announced that it will release its third-quarter financial results for the period ending October 3, 2021, after market close on November 4, 2021. Following the release, management will host a conference call at 2:00 PM PDT (5:00 PM EDT) to discuss the results. A webcast of the call will be available on the company’s investor site, with an audio replay accessible post-call for 72 hours.
Sprouts operates over 360 stores across 23 states and employs approximately 35,000 team members.
Sprouts Farmers Market (SFM) has appointed Lawrence 'Chip' Molloy as Chief Financial Officer, effective September 25, 2021. Molloy, who has been a board member since 2013 and served as interim CFO from June 2019 to February 2020, succeeds Denise Paulonis, who is leaving to become CEO of a publicly traded retailer. CEO Jack Sinclair praised Molloy for his extensive experience and knowledge of the company. The press release also thanked Paulonis for her contributions to Sprouts' long-term growth strategy.
Sprouts Farmers Market reported second-quarter 2021 results with net sales of $1.5 billion, marking a 7% decrease from 2020. Comparable store sales fell by 10.0%, significantly impacted by COVID-19. Net income was $61 million, down from $67 million in 2020, with diluted earnings per share at $0.52. The company opened one new store, totaling 363 stores across 23 states. For 2021, guidance was adjusted, projecting net sales growth in the low single digits and comparable store sales decline of 5.0% to 7.0%. Cash balance stood at $221 million, with ongoing share repurchases.
Sprouts Farmers Market (SFM) will announce its second quarter financial results for the period ending July 4, 2021, after market close on August 5, 2021. A conference call led by Sprouts' management is scheduled for 2:00 PM PDT (5:00 PM EDT) the same day to discuss the results. Investors can access a webcast of the call by registering on the company's investor website. An audio replay will be available after the call for 72 hours. Sprouts operates over 360 stores across 23 states, emphasizing wellness through a curated selection of health-focused products.
Sprouts Farmers Market has opened a new distribution center in Orlando, enhancing its operations in Florida. This 135,000 square-foot facility will serve 33 stores, including the existing 23 and 10 new openings planned for this year. The center is equipped with specialized storage for fresh produce and aims to strengthen local farm partnerships, offering exclusive products like Sugar Baby watermelons. Additionally, 57 new full-time jobs were created. Sprouts continues to prioritize fresh, organic offerings and community support through initiatives like a $25,000 donation to local nonprofit Fleet Farming.
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