Sprouts Farmers Market CEO Jack Sinclair in 2019
Sprouts Farmers Market CEO Jack Sinclair will receive the annual Executive of the Year Award from the W.P. Carey School of Business at Arizona State University next month. According to the institution, Sinclair is receiving the honor “[f]or his leadership in making Sprouts a more efficient, profitable and innovative retailer.”
Since joining Sprouts in 2019, Sinclair has focused on providing a curated, attribute-based product assortment that has helped the specialty food retailer grow its business despite industry headwinds. This year, the company plans to open 30 new stores. He has also advanced a “doing well by doing good” long-term strategy grounded in initiatives that increase business while caring for the health of communities and the environment. Before Sprouts, Sinclair was CEO of 99 Cents Only Stores, EVP in charge of Walmart’s U.S. grocery division, and group marketing and trading director at Safeway PLC in the United Kingdom. All told, he has more than 35 years of experience in the retail and grocery industries.
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“It is a pleasure to award Jack Sinclair this year’s Executive of the Year honor,” said Ohad Kadan, Charles J. Robel Dean, professor of finance and W. P. Carey distinguished chair. “Jack has grown Sprouts Farmers Market through a tumultuous time in the grocery retail industry while advancing initiatives that benefit customers, communities and the planet. That commitment to integrity in leadership is exactly what this award celebrates.”
Sinclair will be the guest of honor at a luncheon at the JW Marriott Scottsdale Camelback Inn Resort & Spa on Wednesday, April 5.
As Progressive Grocer reported earlier this month, Sprouts maintained growth during the fourth quarter and fiscal year while zeroing in on successful formats and shopper needs that best serve the business and its customers. For the fourth quarter ending Jan. 1, the company’s net sales rose 6% on a year-over-year basis to hit $1.6 billion, while sales comps grew 2.9%. For the fiscal year that also ended on the starting day of 2023, net sales climbed 5% compared with 2021 to $6.4 billion, with a 2.2% lift in comps.
The company also recently revealed that it would close 11 underperforming stores to focus on its smaller-format locations.
Phoenix-based Sprouts Farmers Market employs approximately 31,000 associates and operates approximately 380 stores in 23 states nationwide. The company is No. 53 on The PG 100, PG’s 2022 list of the top food and consumables retailers in North America, while Bentonville, Ark.-based Walmart U.S. is No. 1 on the list.