Sprouts Farmers Market, Inc. Reports Third Quarter 2022 Results

About this update from Sprouts Farmers Market, Inc.

[{"type":"text","content":"PHOENIX, Ariz., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week third quarter ended October 2, 2022. \"We are encouraged by our performance in the third quarter, including total sales growth of 5%, comparable store sales growth of 2.4% and earnings per share growth of 9%,\" said Jack Sinclair, chief executive officer of Sprouts Farmers Market. \"I thank the team for their collaboration and commitment in delivering these results and most importantly, their dedication to helping our customers discover better, healthier eating. We are excited about bringing the holiday season to life in our stores and are well-positioned to benefit from the ongoing health and wellness trends.\" Third Quarter Highlights: Net sales totaled $1.6 billion; a 5% increase from the same period in 2021Comparable store sales growth of 2.4%Diluted earnings per share of $0.61; compared to diluted earnings per share of $0.56 in the same period in 2021Opened 1 new store, resulting in 379 stores in 23 states as of October 2, 2022 Leverage and Liquidity in Third Quarter 2022 Ended the quarter with $316 million in cash and cash equivalents and a $250 million balance on its $700 million revolving credit facilityRepurchased 1.6 million shares of common stock for a total investment of $44 millionGenerated cash from operations of $307 million and invested $71 million in capital expenditures, net of landlord reimbursement, year-to-date thru October 2, 2022 Fourth Quarter and Full-Year 2022 Outlook \"Due to our strong performance to date, we are raising our full-year outlook,\" said Chip Molloy, chief financial officer of Sprouts Farmers Market. \"We remain focused on controlling the controllable to deliver strong results and create sustainable shareholder value for the long-term.” The following provides information on our full-year 2022 outlook: Net sales growth: 4.5% - 5.0%Comparable store sales growth: approximately 2%Adjusted diluted earnings per share: $2.32 to $2.36Unit growth: 16 new storesCapital expenditures (net of landlord reimbursements): $120M to $135M The following provides information on our fourth quarter 2022 outlook: Comparable store sales growth: approximately 2.0%Adjusted diluted earnings per share: $0.35 to $0.39 Third Quarter 2022 Conference Call Sprouts will hold a conference call ...

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