Sprouts Farmers Market, Inc. Reports Fourth Quarter and Full Year 2019 Results

About this update from Sprouts Farmers Market, Inc.

[{"type":"text","content":"PHOENIX, Ariz., Feb. 20, 2020 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week fourth quarter and 52-week year ended December 29, 2019. \n Fourth Quarter Highlights: Net sales of $1.4 billion; an 8% increase from the same period in 2018Comparable store sales growth of 1.5% and two-year comparable store sales growth of 3.8%Net income of $32 million; compared to net income of $13 million and adjusted net income of $24 million from the same period in 2018Diluted earnings per share of $0.27; compared to diluted earnings per share of $0.10 and adjusted diluted earnings per share of $0.19 from the same period in 2018 Fiscal Year 2019 Highlights: Net sales of $5.6 billion; an 8% increase from 2018Comparable store sales growth of 1.1% and two-year comparable store sales growth of 3.2%Net income and adjusted net income of $150 million; compared to net income of $159 million and adjusted net income of $168 million in 2018Diluted earnings and adjusted diluted earnings per share of $1.25; compared to diluted earnings per share of $1.22 and adjusted diluted earnings per share of $1.29 in 2018 “During the fourth quarter, I was encouraged by the Sprouts team’s dedication to driving same store sales growth, while we simultaneously delivered positive margins,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market. “We remain engaged in developing a long-term strategy and are optimistic about the future of Sprouts rooted in a brand that is good for you, good for your family and good for the planet.” 2020 First Quarter and Full Year Outlook The following provides information on our outlook for 2020, which does not factor in any strategic changes. In addition, the Company notes the fiscal year 2020 will be a 53-week year, with the extra week falling in the fourth quarter. We estimate the impact from the 53rd week to be approximately $120 million in sales, $9 million in income before income taxes, and $0.06 in diluted earnings per share: Full year 2020 Outlook Q1 2020 Outlook (52-Week) Net sales growth 5.5% to 6.5% 5.5% to 6.5% Comparable store sales growth 0% to 1% 0% to 1% Unit growth Approximately 20 Diluted earnings per share $0.45 to $0.47 $1.17 to $1.23 Earnings before taxes (\"EBT\") Growth $187M to $197M Effective tax rate Approximately 26% Capital expenditures (net of land...

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