Sprouts Farmers Market ( (SFM) ) has released its Q4 earnings. Here is a breakdown of the information Sprouts Farmers Market presented to its investors.
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Sprouts Farmers Market, Inc., headquartered in Phoenix, is a leading specialty retailer in the United States focused on fresh, natural, and organic food offerings through an open layout grocery experience that promotes wellness and healthy living.
In its latest financial results, Sprouts Farmers Market reported a strong performance for both the fourth quarter and the full fiscal year 2024, showcasing significant growth in net sales and earnings per share. The company attributes its success to its strategic execution and appeal to health-conscious consumers.
Key financial highlights from the fourth quarter of 2024 include an 18% rise in net sales totaling $2 billion, and a notable increase in comparable store sales by 11.5%. The company also reported a rise in diluted earnings per share to $0.79 from $0.49 in the previous year. For the entire fiscal year, Sprouts achieved $7.7 billion in net sales, representing a 13% growth, and improved its diluted earnings per share to $3.75 compared to $2.50 in 2023. The company expanded its footprint by opening 33 new stores, bringing the total to 440 locations across 24 states.
Sprouts Farmers Market maintained a robust liquidity position by ending 2024 with $265 million in cash and no outstanding balance on its revolving credit facility, after making a significant voluntary pay down. Additionally, the company authorized a $600 million share buyback program, reflecting its confidence in its financial position and future prospects.
Looking ahead, Sprouts Farmers Market remains optimistic for 2025, projecting continued growth in net sales and comparable store sales, along with plans to open at least 35 new stores. The company’s management is focused on sustaining its healthy living brand and expanding its reach to meet the rising demand for organic and natural products.
