Food and Staples Retailing
Company Overview of Sprouts Farmers Market, Inc.
Sprouts Farmers Market, Inc., together with its subsidiaries, operates as a retailer of fresh, natural, and organic food in the United States. The company’s retail stores offer fresh produce, bulk foods, vitamins and supplements, grocery, meat and seafood, deli, bakery, dairy, frozen foods, body care and natural household items, beer and wine, and dairy alternatives. As of February 25, 2016, it operated 224 stores in 13 states. Sprouts Farmers Market, Inc. was founded in 2002 and is based in Phoenix, Arizona.
5455 East High Street
Phoenix, AZ 85054
Founded in 2002
Key Executives for Sprouts Farmers Market, Inc.
Chief Executive Officer and Director
Total Annual Compensation: $498.5K
President and Chief Operating Officer
Total Annual Compensation: $458.1K
Total Annual Compensation: $570.8K
Chief Legal Officer and Corporate Secretary
Total Annual Compensation: $305.6K
Vice President of Investor Relations & Treasury
Total Annual Compensation: $199.4K
Compensation as of Fiscal Year 2015.
Sprouts Farmers Market, Inc. Key Developments
Robbins Arroyo LLP Announces Class Action Complaint against Sprouts Farmers Market, Inc
Mar 29 16
Robbins Arroyo LLP announced that a class action complaint was filed against Sprouts Farmers Market, Inc. in the Superior Court of the State of Arizona, County of Maricopa. The plaintiff brings the complaint on behalf of all purchasers of Sprouts common stock in connection with the company's March 10, 2015 underwritten secondary public offering, for alleged violations of the Securities Act of 1933 by Sprouts' officers and directors. Sprouts Farmers Market, together with its subsidiaries, operates as a retailer of fresh, natural, and organic food in the United States. According to the complaint, Sprouts stated in its Form 10-K with the U.S. Securities and Exchange Commission for the fiscal year ended December 28, 2014, that its resilient business model, strong financial performance, and its ability to offer competitive prices on natural and organic products set it apart from its competitors. Sprouts further mentioned that food deflation could reduce sales growth, but did not discuss then-current trends in produce price deflation or the effects of such deflation on the company's sales growth or outlook. On March 4, 2015, Sprouts filed a Registration Statement with the SEC registering the selling stockholders' remaining shares of Sprouts common stock for sale to the public at a maximum offering price of $35.85 per share. The offering, which closed on March 10, 2015, was successful for the selling stockholders, who sold 15,847,800 shares of common stock to the public at $35.30 per share, raising more than $559.4 million in gross proceeds. The complaint alleges that the offering documents were misleading because they were required to, but did not disclose uncertainties that are reasonably likely to have a material impact on the company's profitability, including price deflation.
Sprouts Farmers Market, Inc. Announces Executive Changes
Mar 25 16
On March 21, 2016, Donna Berliniski, Vice President, Controller and Principal Accounting Officer of Sprouts Farmers Market, Inc. advised the Company that she intended to resign her position, effective June 24, 2016, to pursue other opportunities. In connection with Ms. Berlinski's departure, the company appointed its Chief Financial Officer and Treasurer, Bradley Lukow, as its Principal Accounting Officer, effective June 24, 2016. Mr. Lukow, age 52, was appointed as the company's Chief Financial Officer and Treasurer on March 1, 2016 and previously served as Chief Financial Officer of 99 Cents Only Stores, from January to June 2015, and Executive Vice President and Chief Financial Officer of Shoppers Drug Mart, from January 2009 to November 2014.
Sprouts Farmers Market, Inc. Presents at Bank of America Merrill Lynch Consumer & Retail Technology Conference 2016, Mar-16-2016 08:50 AM
Mar 2 16
Sprouts Farmers Market, Inc. Presents at Bank of America Merrill Lynch Consumer & Retail Technology Conference 2016, Mar-16-2016 08:50 AM. Venue: Lotte New York Palace Hotel, New York, New York, United States. Speakers: Amin N. Maredia, Chief Executive Officer and Director.
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