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 February 26, 2015, it operated 198 stores in 12 states. Sprouts Farmers Market, Inc. was founded in 2002 and is based in Phoenix, Arizona.
11811 North Tatum Boulevard
Phoenix, AZ 85028
Founded in 2002
Sprouts Farmers Market Announces Board Changes, Effective as of Feb. 25, 2015
Feb 25 15
Sprouts Farmers Market, Inc. announced that Doug Sanders, its president and chief executive officer, has been appointed to the company's board of directors. Mr. Sanders will fill the vacancy created by the retirement of George Golleher, a director since 2011. These changes are effective as of Feb. 25, 2015.
Sprouts Farmers Market, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 28, 2014; Provides Comparable Store Sales Guidance First Quarter and Earnings Guidance for the Full Year of 2015
Feb 25 15
Sprouts Farmers Market, Inc. reported consolidated earnings results for the fourth quarter and full year ended December 28, 2014. For the quarter, the company reported net sales of $734,593,000 against $608,236,000 a year ago. Income from operations was $32,813,000 against $22,699,000 a year ago. Income before income taxes was $27,013,000 against $14,843,000 a year ago. Net income was $17,743,000 or $0.11 per share diluted against $9,280,000 or $0.06 per share diluted a year ago. Adjusted EBITDA was $53,359,000 against $37,734,000 a year ago. Adjusted net income was $18,165,000 against $11,435,000 a year ago. Adjusted earnings before interest and taxes were $33,570,000 against $25,141,000 a year ago. Diluted adjusted net income per share was $0.12 against $0.07 a year ago. Net sales growth was driven by an 8.5% increase in comparable store sales growth and strong performance in new stores opened.
For the year, the company reported net sales of $2,967,424,000 against $2,437,911,000 a year ago. Income from operations was $199,711,000 against $139,504,000 a year ago. Income before income taxes was $174,106,000 against $84,067,000 a year ago. Net income was $107,692,000 or $0.70 per share diluted against $51,326,000 or $0.37 per share diluted a year ago. Net cash provided by operating activities was $181,218,000 against $160,588,000 a year ago. Purchases of property and equipment were $127,065,000 against $87,463,000 a year ago. Adjusted EBITDA was $265,376,000 against $195,157,000 a year ago. Adjusted net income was $111,156,000 against $67,423,000 a year ago. Adjusted earnings before interest and taxes were $204,764,000 against $147,618,000 a year ago. Diluted adjusted net income per share was $0.72 against $0.48 a year ago. The company invested $108 million in capital expenditures net of landlord reimbursements, primarily for new stores.
For the first quarter of 2015, the company expects comparable store sales growth to be 5% to 6%. Two-year combined pro forma comparable store sales growth is expected to be 18% to 19%.
For the full year of 2015, the company expects net sales growth of 20% to 22%. Comparable store sales growth is expected to be 6% to 7%. Adjusted EBITDA growth is expected to be 16% to 19%. Adjusted net income growth is expected to be 18% to 22%. Adjusted diluted earnings per share expected to be $0.84 to $0.87. Capital expenditures expected to be $100 million to $110 million. On a 52-week to 52-week basis the company expects total sales growth of 18% to 20%. Comparable store sales growth is on an equal 52-week to 52-week basis.