Sprouts Farmers Market Q3 Sales Soar
Third quarter sales at Sprouts Farmers Market were up 14% as the specialty grocer reported strong growth in comparable store sales.
For the quarter ending September 29, net sales were $1.9 billion as compared to net sales of $1.7 billion in the same quarter of the previous year. Comparable store sales in the quarter were up 8.4%. Diluted earnings per share were $0.91, up from diluted earnings per share of $0.64 in the third quarter of the previous year.
"The third quarter was another exceptional performance by our Sprouts team," said Jack Sinclair, chief executive officer of Sprouts Farmers Market. "We are driving robust traffic growth and continue to execute at a very high level. We remain confident in our long-term growth potential."
During the quarter the grocer opened nine new stores and as of September 29 operated 428 locations in 23 states.
In the fourth quarter, Sprouts is forecasting comparable store sales growth of between 8% and 10% with adjusted diluted earnings per share of between $0.67 to $0.71 anticipated.
The grocer will also open 33 new stores in the fourth quarter, with the opening of two locations in Florida delayed until the first quarter of 2025 because of Hurricane Milton.
