Business
Sprouts Farmers Market, Inc. Reports Fourth Quarter and Full Year 2024 Results
PHOENIX, Ariz.--(BUSINESS WIRE)-- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week fourth quarter and 52-week year ending
About this update from Sprouts Farmers Market, Inc.
[{"type":"text","content":" PHOENIX, Ariz.--(BUSINESS WIRE)--\nSprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week fourth quarter and 52-week year ending December 29, 2024.\n\n“2024 was a remarkable year for our company,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market. “Our teams across the business delivered on our strategy and set us up for even greater success in the future. Our unique, attribute-driven offering resonates more than ever with our target customers. They trust Sprouts as a partner on their healthy living journey, and it shows in our results. I’m grateful to our team members for their hard work, and we are excited for 2025 and the years ahead.”\n\nFourth Quarter Highlights:\n\n\nNet sales totaled $2.0 billion; a 18% increase from the same period in 2023\n\n\nComparable store sales growth of 11.5%\n\n\nDiluted earnings per share of $0.79; compared to diluted earnings per share of $0.49 in the same period in 2023\n\n\nOpened 12 new stores\n\n\nFull Year Highlights:\n\n\nNet sales totaled $7.7 billion; a 13% increase from the same period in 2023\n\n\nComparable store sales growth of 7.6%\n\n\nDiluted earnings per share of $3.75; compared to diluted earnings per share of $2.50 and Adjusted diluted earnings per share of $2.84(1) in the same period in 2023\n\n\nOpened 33 new stores, resulting in 440 stores in 24 states as of December 29, 2024\n\n\n\n\n(1)\n\n\n\n\nAdjusted diluted earnings per share, a non-GAAP financial measure, excludes the impact of certain special items. For the fifty-two weeks ended December 29, 2024, there were no adjustments due to special items. See the “Non-GAAP Financial Measures” section of this release for additional information about this item.\n\n\n\n\nLeverage and Liquidity in 2024\n\n\nEnded the quarter with $265 million in cash and cash equivalents and zero balance on its $700 million revolving credit facility after a $125 million voluntary pay down\n\n\nAuthorized a new $600 million share buyback program and repurchased 2.7 million shares of common stock for a total investment of $238 million, excluding excise tax\n\n\nGenerated cash from operations of $645 million and invested $200 million in capital expenditures, net of landlord reimbursement\n\n\nFirst Quarter and Full-Year 2025 Outlook\n\nThe following provides information on our first quarter 2025 outloo...