PHOENIX, AZ - Expansions, investments, and fresh-forward strategies are a winning trifecta for Sprouts Farmers Market, which recently highlighted a successful quarter in its fourth quarter and full year 2022 financial report, revealing its net sales hit $1.6 billion.

"We are pleased with our strong fourth-quarter results, closing out the year with double-digit earnings per share growth," said Jack Sinclair, Chief Executive Officer. "These solid trends reflect the resilience of healthy, natural, and organic food, and give us confidence in our future business. I want to thank the entire team for driving these results in the face of a challenging year, and for living our values daily."

The grocer's $1.6 billion net sales represent a 6 percent increase from the same period in 2021. In addition to this sales boost, the grocer also solidified its footprint with the opening of seven new stores.

In addition to its fourth-quarter performance, the retailer also unveiled its full-year highlights and 2023 outlook.

The company's fiscal year 2022 highlights include:

• Net sales totaled $6.4 billion; a 5 percent increase from 2021
• Comparable store sales growth of 2.2 percent
• Opened 16 new stores, resulting in 386 stores in 23 states as of January 1, 2023

"While we recognize the near-term economic environment is difficult to predict, the stability of our recent sales is encouraging," said Chip Molloy, Chief Financial Officer. "We are optimistic about our ongoing cash generation and our ability to invest in our business for growth. During 2023, we expect to open 30 new stores. Additionally, as part of a recent real estate portfolio review, we expect to close 11 stores. The closing stores, on average, are approximately 30 percent larger than our current prototype and are underperforming financially."

Click here to read more details of the report.

ANUK is always tracking the growth of the retail sector, so stay tuned for more updates.

Sprouts Farmers Market