Business
Sprouts Farmers Market Announces $300 Million Share Repurchase Authorization
PHOENIX, March 04, 2021 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) announced today that its Board of Directors authorized a new share
About this update from Sprouts Farmers Market, Inc.
[{"type":"text","content":"PHOENIX, March 04, 2021 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) announced today that its Board of Directors authorized a new share repurchase program on March 3, 2021 of $300 million of its common shares. The shares may be purchased on a discretionary basis from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means, including through Rule 10b5-1 trading plans. The repurchase program may be commenced, suspended or discontinued at any time and expires in three years. “Our new share repurchase program reflects our commitment to strong cash flow generation and driving shareholder return, while at the same time deploying capital to drive growth over the long term,” said Denise Paulonis, Chief Financial Officer. “This repurchase program demonstrates the Board's confidence in our future and the company’s strategy.” Forward-Looking Statements Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact (including, but not limited to, statements to the effect that Sprouts Farmers Market or its management \"anticipates,\" \"plans,\" \"estimates,\" \"expects,\" or \"believes,\" or the negative of these terms and other similar expressions) should be considered forward-looking statements, including, without limitation, statements regarding the company’s outlook, growth, opportunities and long-term strategy. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks and uncertainties include, without limitation, risks associated with the impact of the COVID-19 pandemic; the company’s ability to execute on its long-term strategy; the company’s ability to successfully compete in its competitive industry; the company’s ability to successfully open new stores; the company’s ability to manage its growth; the company’s ability to maintain or improve its operating margins; the company’s ability to identify and react to trends in consumer preferences; product supply disruptions; general economic conditions; accounting standard changes; and other factors a...