Sprouts Farmers Market Sees Sales Growth In Q4

Sprouts Farmers Market closed out its fiscal year on a positive note as sales in the fourth quarter were up 8%, with comparable store sales also showing strong gains.

For the quarter ended December 31, total net sales were $1.7 billion. Diluted earnings per share were $0.49, up from earnings per share of $0.42 in the comparable quarter the previous year. Comparable store sales were up 3.3%. The grocer during the quarter opened six new stores.

"Our fourth quarter performance demonstrates our continued strength as a leading specialty grocer," said Jack Sinclair, chief executive officer of Sprouts Farmers Market. "Our 2023 results exceeded our original expectations, with solid comparable sales each quarter, positive traffic, accelerating unit growth, and increasing customer engagement."

For the full fiscal year, net sales were $6.8 million, an increase of 7% over 2022. Diluted earnings per share for the year were $2.50 compared to diluted earnings per share of $2.39 in 2022. Comparable store sales were up 3.4%. Sprouts during its fiscal year opened 30 new stores, acquired 2 previously licensed stores, and closed 11 stores, resulting in 407 stores in 23 states as of December 31.

For the full year, Sprouts is forecasting net sales growth of between 5.5% to 7.5% with comparable store sales growth expected of between 1.5% to 3.5%. The grocer is expecting to open 35 stores in the current fiscal year.