Business
Sprouts Farmers Market, Inc. Acquires Two Licensed Stores in California
PHOENIX, March 20, 2023 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announces that it has acquired two independently owned stores in
About this update from Sprouts Farmers Market, Inc.
[{"type":"text","content":"PHOENIX, March 20, 2023 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announces that it has acquired two independently owned stores in Chula Vista, California, operating under the Sprouts Farmers Market name pursuant to a legacy trademark license arrangement. Acquiring these stores will allow complete control of the Sprouts brand and open further expansion possibilities in Southern California. The Company licensed the Sprouts Farmers Market trademark to a third-party operator many years ago in a one-of-a-kind operating structure. No other licensed Sprouts stores exist. “We are pleased to bring these two high-volume stores into the Sprouts fold, allowing us to serve more customers in the San Diego market,” said Chip Molloy, chief financial officer of Sprouts Farmers Market. The stores were not factored in its outlook, released on March 2, 2023. Forward-Looking StatementsCertain 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; equipment supply disruptions; general economic conditions; accounting standard changes; and other factors as set forth from time to time in the company’s Securities and...