PHOENIX, AZ - What's new for Sprouts Farmers Market? We are about to find out, as the grocer has unveiled its latest financial report. Detailing its results for the 13-week first quarter ended April 2, 2023, Sprouts announced its net sales have reached $1.7 billion.

"We are pleased with our first quarter; we believe our long-term growth strategy is gaining traction and driving positive performance," said Jack Sinclair, Chief Executive Officer. "Our results included comparable store sales growth of 3.1 percent, total sales growth of 6 percent, and adjusted diluted earnings per share growth of 24 percent."

As the company explained in a press release, Sprouts' $1.7 billion in net sales is a 6 percent increase from the same period in 2022. In the same report, the grocer also revealed comparable store sales growth of 3.1 percent.

Further growth can be seen through the retailer's physical expansion, as Sprouts opened eight new stores, closed one store, and acquired two previously licensed stores, resulting in 395 stores across 23 states as of April 2, 2023.

Regarding its full-year 2023 outlook, Sprouts Farmers Market currently anticipates the following:

• Net sales growth: 5–6 percent
• Comparable store sales growth: 2–3 percent
• Adjusted EBIT: $370 million–$385 million
• Unit growth: 30 new stores, closing 11 stores, and acquisition of two previously licensed stores

For more details on the retailer's Q1 performance, click here.

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Sprouts Farmers Market