Sprouts Farmers Market, Inc. Reports Fourth Quarter and Full Year 2020 Results

About this update from Sprouts Farmers Market, Inc.

[{"type":"text","content":"PHOENIX, Ariz., Feb. 25, 2021 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 14-week fourth quarter and 53-week year ended January 3, 2021. Period-over-period increases stated herein reflect the comparison of 14 and 53 weeks in fourth quarter and fiscal year 2020 to 13 and 52 weeks in fourth quarter and fiscal year 2019, respectively, unless otherwise noted. Fourth Quarter Highlights: Net sales of $1.6 billion; a 17% increase from the same period in 2019Comparable store sales growth of 3.7% and two-year comparable store sales growth of 5.2%, both on a 13-week basisNet income of $68 million and adjusted net income(1) of $70 million; compared to net income and adjusted net income of $32 million from the same period in 2019; adjusted net income increased 119% from the same period in 2019Diluted earnings per share of $0.58 and adjusted diluted earnings per share(1) of $0.59; compared to diluted and adjusted diluted earnings of $0.27 per share from the same period in 2019Adjusted diluted earnings per share of $0.49, estimated on a 13-week basis, an 81% increase from the same period in 2019 Fiscal Year 2020 Highlights: Net sales of $6.5 billion; a 15% increase from 2019Comparable store sales growth of 6.9% and two-year comparable store sales growth of 8.0%, both on a 52-week basisNet income of $287 million and adjusted net income(1) of $294 million; compared to net income and adjusted net income of $150 million from 2019; adjusted net income increased 96% from 2019Diluted earnings per share of $2.43 and adjusted diluted earnings per share(1) of $2.49; compared to diluted and adjusted diluted earnings per share of $1.25 from 2019Adjusted diluted earnings per share of $2.39, estimated on a 52-week basis, a 91% increase from 2019 “In 2020, we generated record earnings and cash flow from a 15% increase in sales while absorbing costs associated with a 340% increase in ecommerce sales, paying record bonuses to our frontline team members, and opening 22 new stores,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market. “Executing our strategic initiatives at a more rapid pace than we originally planned is fueling these encouraging results and establishing a solid base from which we can invest and grow. I want to thank not only our dedicated team members at Sprouts, but also our ...

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