STOCK TITAN

Sprouts Farmers Market to Eliminate Single Use Plastic Bags by End of 2023

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

On March 28, 2023, Sprouts Farmers Market (SFM) announced plans to eliminate single-use plastic bags by the end of 2023, aiming to remove over 200 million bags annually. The initiative, already implemented in 132 California stores, will expand to locations in Nevada, Utah, Maryland, Pennsylvania, and Virginia next month. Customers will be offered reusable plastic bags made from 40% post-consumer recycled material, designed for at least 125 uses. The company has also ceased providing paper bags due to their environmental impact. Customers can recycle soft plastics at Sprouts stores, with nearly one million pounds recycled in 2022.

Positive
  • Eliminating over 200 million single-use plastic bags annually demonstrates a strong commitment to sustainability.
  • Transition to reusable bags could enhance customer loyalty and brand reputation.
Negative
  • Shifting to reusable bags may inconvenience some customers, potentially affecting short-term sales.
  • Stopping paper bag usage may lead to customer dissatisfaction among those who prefer paper.

PHOENIX, March 28, 2023 (GLOBE NEWSWIRE) -- Sprouts Farmers Market (Nasdaq: SFM), one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, today announced it will eliminate single use plastic bags at checkout by the end of 2023. With this decision, Sprouts will remove over 200 million single use plastic bags from circulation each year.

Sprouts has already eliminated single use plastic bags at 132 of its California stores and will roll out this initiative in phases next month, beginning with Nevada, Utah, Maryland, Pennsylvania and Virginia stores.

“Our customers tell us how much they appreciate Sprouts’ care for the planet and our commitment to doing what’s right for our collective future,” said Nick Konat, president and chief operating officer of Sprouts. “The decision to shift to reusable bags is one of many ways Sprouts will have an even bigger impact on the environment. We understand this will be an adjustment for our customers, and we will be here to help them with the transition.”

Sprouts will offer customers stronger, reusable plastic bags made from 40% post-consumer recycled material that are designed to be reused at least 125 times and will continue to offer customers numerous other reusable bag options for purchase. Sprouts will encourage customers to bring their own reusable bags by charging ten cents per reusable plastic bag.

The company has also stopped offering paper bags at checkout as paper bags are generally not reusable, often are not recycled (with 80% ending up in landfill) and have a high environmental cost in terms of water, energy and raw materials used in their manufacture.

“We like to remind customers that any bag takes energy and resources to produce, which means the most sustainable choice is the bag you already have. Making the effort to reuse any bag that comes into your possession, and disposing of the bag responsibly, is key,” said Konat.

Customers can continue to bring single use plastic bags to Sprouts stores for recycling after use; in 2022, customers recycled nearly one million pounds of soft plastics at Sprouts stores. Learn more about this initiative and Sprouts’ sustainability efforts at sprouts.com/sustainability.

ABOUT SPROUTS FARMERS MARKET, INC.
True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 31,000 team members and operates approximately 380 stores in 23 states nationwide. To learn more about Sprouts, and the good it brings communities, visit about.sprouts.com.

Contact: 480.263.0441, media@sprouts.com

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5c51d10-549c-487e-b67a-1cb98f23ff0d
https://www.globenewswire.com/NewsRoom/AttachmentNg/370475f4-ae0b-4203-9e99-de01cb6cc474


FAQ

When will Sprouts Farmers Market eliminate single-use plastic bags?

Sprouts Farmers Market plans to eliminate single-use plastic bags by the end of 2023.

What is Sprouts Farmers Market's initiative regarding plastic bags?

Sprouts Farmers Market will remove over 200 million single-use plastic bags annually and replace them with reusable bags.

Which states will see the rollout of Sprouts' plastic bag initiative?

The initiative will begin in Nevada, Utah, Maryland, Pennsylvania, and Virginia stores next month.

How is Sprouts Farmers Market promoting reusable bags?

Sprouts will charge ten cents per reusable plastic bag and encourage customers to bring their own bags.

How much soft plastic did customers recycle at Sprouts Stores in 2022?

Customers recycled nearly one million pounds of soft plastics at Sprouts stores in 2022.

Sprouts Farmers Market, Inc.

NASDAQ:SFM

SFM Rankings

SFM Latest News

SFM Stock Data

14.60B
99.53M
0.44%
106.32%
7.25%
Grocery Stores
Retail-grocery Stores
Link
United States of America
PHOENIX