Business
Sprouts Farmers Market, Inc. Reports Second Quarter 2021 Results
PHOENIX, Ariz., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week second quarter ended July
About this update from Sprouts Farmers Market, Inc.
[{"type":"text","content":"PHOENIX, Ariz., Aug. 05, 2021 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week second quarter ended July 4, 2021. Second Quarter Highlights(1): Net sales of $1.5 billion; a 7% decrease from the same period in 2020 and a 7% increase from the same period in 2019Comparable store sales growth of -10.0% and two-year comparable store sales growth of -0.6%(2)Net income of $61 million; compared to net income of $67 million and adjusted net income(3) of $70 million in the same period in 2020; and compared to net income of $35 million from the same period in 2019Diluted earnings per share of $0.52; compared to $0.57 diluted earnings per share and adjusted diluted earnings per share(3) of $0.59 in the same period in 2020; and compared to $0.30 diluted earnings per share from the same period in 2019 \"I am pleased with our strong profit results in the second quarter, continuing to build on the positive step change in financial performance we made in 2020,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market. \"As I look forward to the balance of the year, I am excited about growing our differentiated brand proposition. We continue to lead with our strategic priorities of investing in innovation and our new store format, accelerating our marketing initiatives to deepen our relationship with our target customer, and leveraging an advantaged fresh supply chain, setting the foundation for Sprouts' long-term growth.” 1 The Company’s results for the second quarter of 2020 were significantly impacted by the COVID-19 pandemic. Accordingly, this presentation also includes certain comparisons to results in the second quarter of 2019. 2 To account for the 53rd week in fiscal 2020 we shifted each week back one week, thereby ignoring the first week of fiscal 2020 to better align holidays for comparison purposes. More information can be found at investors.sprouts.com under additional reports. 3 Adjusted net income and adjusted diluted earnings per share, non-GAAP financial measures, exclude the impact of certain special items. There were no such adjustments for the quarter ended July 4, 2021. See the “Non-GAAP Financial Measures” section of this release for additional information about these items. Second Quarter 2021 Financial ResultsNet sales for the second quarter of 2021 were $1.5...