PHOENIX, AZ- Sprouts Farmers Market, Inc. reported results for the 13-week fourth quarter and 52-week year ending December 29, 2024.

“2024 was a remarkable year for our company,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market, in a recent press release. “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.”

Fourth Quarter Highlights:

• Net sales totaled $2.0 billion; a 18% increase from the same period in 2023
• Comparable store sales growth of 11.5%
• Diluted earnings per share of $0.79; compared to diluted earnings per share of $0.49 in the same period in 2023
• Opened 12 new stores

Full Year Highlights:

• Net sales totaled $7.7 billion; a 13% increase from the same period in 2023
• Comparable store sales growth of 7.6%
• Diluted earnings per share of $3.75; compared to diluted earnings per share of $2.50 and Adjusted diluted earnings per share of $2.84 in the same period in 2023
• Opened 33 new stores, resulting in 440 stores in 24 states as of December 29, 2024

Leverage and Liquidity in 2024

• Ended 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
• Authorized 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
• Generated cash from operations of $645 million and invested $200 million in capital expenditures, net of landlord reimbursement

First Quarter and Full-Year 2025 Outlook

The following provides information on our first quarter 2025 outlook:

• Comparable store sales growth: 10% to 11%
• Adjusted diluted earnings per share: $1.51 to $1.55

The following provides information on our full-year 2025 outlook:

• Net sales growth: 10.5% to 12.5%
• Comparable store sales growth: 4.5% to 6.5%
• Adjusted EBIT: $590 million to $610 million
• Adjusted diluted earnings per share: $4.52 to $4.68
• Unit growth: At least 35 new stores
• Capital expenditures (net of landlord reimbursements): $230 million to $250 million

To see the full report, click here.