Sprouts Farmers Market Starts FY25 With Robust Sales Growth
The momentum Sprouts Farmers Market enjoyed in 2024 has carried into 2025 as the Phoenix-based specialty grocer reported double-digit sales growth in the first quarter.
For the 13 weeks ended March 30, net sales were up 19% to $2.2 billion. Diluted earnings per share were $1.81, compared to diluted earnings per share of $1.12 in the comparable quarter the previous year. Comparable store sales were up 11.7% in the first quarter.
“We are delighted with Sprouts’ strong start to 2025,” said Jack Sinclair, Sprouts’ chief executive officer. “These results highlight the effectiveness of our differentiated strategy and excellent execution. Our team members bring knowledge and passion for healthy eating to our core customers every day, and we remain confident in our strategy as we navigate this current environment.”
During the first quarter, Sprouts opened three new stores and as of March 30, operated 443 stores in 24 states. Current plans call for a total of 35 new store openings in fiscal year 2025.
The company ended the first quarter with $286 million in cash and cash equivalents and a zero balance on its $700 million revolving credit facility. Sprouts repurchased 1.6 million shares of common stock for a total investment of $219 million, excluding excise tax, and generated cash from operations of $299 million and invested $49 million in capital expenditures.
For the second quarter, Sprouts is forecasting comparable store sales growth of between 6.5% and 8.5%, with diluted earnings per share of between $1.19 to $1.23. For the full year, the grocer is forecasting net sales growth of between 12% and 14%, with comparable store sales growth of between 5.5% and 7.5%. Diluted earnings per share of between $4.94 to $5.10 are expected.
