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August 29, 2015 8:38 AM ET

Food and Staples Retailing

Company Overview of Sprouts Farmers Market, Inc.

Company Overview

Sprouts Farmers Market, Inc. operates as a specialty retailer of fresh, natural, and organic food in the United States. The company’s stores offer fresh produce, bulk foods, vitamins and supplements, grocery products, meat and seafood products, deli and bakery products, dairy and dairy alternatives, frozen foods, beer and wine, natural health and body care products, and natural household products. As of May 7, 2015, it operated 205 stores in 12 states. Sprouts Farmers Market, Inc. was founded in 2002 and is based in Phoenix, Arizona.

5455 East High Street

Suite 111

Phoenix, AZ 85054

United States

Founded in 2002

17,000 Employees

Phone:

480-814-8016

Key Executives for Sprouts Farmers Market, Inc.

Chief Executive Officer
Age: 43
Total Annual Compensation: $395.6K
President and Chief Operating Officer
Age: 44
Total Annual Compensation: $392.7K
Executive Chairman
Age: 46
Total Annual Compensation: $553.1K
Chief Legal Officer and Corporate Secretary
Age: 38
Total Annual Compensation: $273.1K
Chief Development Officer
Age: 54
Total Annual Compensation: $272.1K
Compensation as of Fiscal Year 2014.

Sprouts Farmers Market, Inc. Key Developments

Sprouts Farmers Market, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2015; Provides Comparable Store Sales and Gross Profit Margin Guidance for the Third Quarter of 2015; Provides Earnings Guidance for the Full Year of 2015

Sprouts Farmers Market, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 28, 2015. For the quarter, the company reported net sales of $902.153 million against $743.810 million a year ago. Income from operations was $60.046 million against $55.573 million a year ago. Income before income taxes was $50.240 million against $49.153 million a year ago. Net income was $31.322 million or $0.20 per diluted share against $30.151 million or $0.20 per diluted share a year ago. Adjusted net income was $35.018 million or $0.20 per diluted share against $30.218 million $0.20 per diluted share a year ago. Adjusted earnings before interest and taxes (EBIT) were $60.603 million against $55.782 million a year ago. Adjusted EBITDA was $77.569 million against $69.104 million a year ago. For the six months, the company reported net sales of $1,759.659 million against $1,466.416 million a year ago. Income from operations was $126.620 million against $117.242 million a year ago. Income before income taxes was $111,008 million against $104.451 million a year ago. Net income was $68.789 million or $0.44 per diluted share against $63.884 million or $0.42 per diluted share a year ago. Net cash provided by operating activities was $120.940 million against $137.889 million a year ago. Purchases of property and equipment were $74.541 million against $57.793 million a year ago. Adjusted net income was $73.601 million $0.47 per diluted share against $65.580 million $0.43 per diluted share a year ago. Adjusted earnings before interest and taxes (EBIT) were $129.070 million against $120.211 million a year ago. Adjusted EBITDA was $146.568 million against $146.568 million a year ago. The company provided comparable store sales guidance for the third quarter of 2015. The company expects comparable store sales growth in the range of 4% to 5% and two-year combined pro forma comparable store sales growth in the range of 13% to 14%. The third quarter gross profit margin to be slightly less compressed than the first half and start to level out in the fourth quarter. The company revised earnings guidance for the full year of 2015. Currently the company expects net sales growth of 19% to 21%, comparable store sales growth of 4% to 5%, adjusted EBITDA growth of 10% to 12%, adjusted net income growth of 13% to 15%, adjusted diluted earnings per share of $0.80 to $0.82 and capital expenditures in the range of $100 million to $110 million. The corporate tax rate will be approximately 38% as the company have received enhanced deductions for food donation initiatives.

Sprouts Farmers Market, Inc. Announces Management Changes

Sprouts Farmers Market, Inc. announced that, effective August 6, 2015, as part of the company's established leadership succession plan, Doug Sanders, the company's current president and chief executive officer and member of the board of directors, has been appointed executive chairman of the board. Amin Maredia, chief financial officer, will ascend to the position of chief executive officer, and Jim Nielsen, chief operating officer, will assume the position of president and chief operating officer. The company also has appointed Susannah Livingston, vice president of investor relations and treasury, as its interim chief financial officer, until the company completes its search for a new chief financial officer. Livingston has over 25 years of financial, treasury and investor relations experience, including the last two years with Sprouts, serving as its vice president of investor relations and treasury since January 2015, and vice president of investor relations and communications from April 2013 to December 2014. Her experience includes financial roles with increasing responsibility at Solutia Inc., a global manufacturer of performance materials and specialty chemicals.

Sprouts Farmers Market, Inc. to Report Q2, 2015 Results on Aug 06, 2015

Sprouts Farmers Market, Inc. announced that they will report Q2, 2015 results at 2:00 PM, Pacific Daylight on Aug 06, 2015

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