Sprouts Farmers Market Expanding Into 10 More Communities
In addition to the dozen of new store openings announced last week, Sprouts Farmers Market has informed Progressive Grocer of 10 more grand openings it has planned in the coming months.
The accelerated growth is part of the company's goal of opening 35 new locations during its fiscal year 2024. Sprouts' physical growth is in line with its financial growth. For its second quarter ended June 30, the specialty retailer reported net sales of $1.9 billion, a 12% increase from the same period in 2023. Comparable store sales grew 6.7%. And diluted earnings per share was $0.94, compared to $0.65 in the same period in 2023.
“Given our business momentum, we are eager to expand into more communities,” said CEO Jack Sinclair during a July 29 earnings webcast.
These communities include the following new list of grand openings:
Nov. 8
- Palm Springs, Calif.
Nov. 15
- Stockbridge-Jodeco, Ga.
- Studio City, Calif.
Nov. 22
- Cheyanne, Wyo.
- Georgetown–Wildwood Dr., Texas
Dec. 6
- San Jose–N. Capitol Ave., Calif.
- Downey, Calif.
- Middletown, Del.
- Melbourne–Wickham, Fla.
- Madison, Tenn.
Sprouts' locations feature an open layout with fresh produce at the heart of the store. The healthy retailer inspires wellness naturally with a carefully curated assortment of better-for-you products. It continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free.
“Our enthusiastic customers continue to respond positively to our differentiated product assortment and unique shopping experience,” commented Sinclair. “As consumer preferences shift toward healthier living, we anticipate there we will be even more health enthusiasts than there are today.”
Consequently, Sinclair said the company is dedicated to expanding its banner with over 110 approved new stores in the pipeline over the next few years.
Phoenix-based Sprouts employs about 32,000 associates and operates more than 400 stores in 23 states nationwide. The specialty retailer is No. 51 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.
