Natural foods retailer Sprouts Farmers Market tallied big sales and income gains in the third quarter of 2017.
Net sales at Phoenix-based Sprouts were $1.2 billion in the quarter, 16% higher than during the same period last year. Net income also was up sharply, jumping 32 percent to $31 million.
The company also reported diluted earnings per share of $.23 in the third quarter, 44 percent higher than in the third quarter of 2016, and comparable store sales growth of 4.6 percent.
As a result, Sprouts increased its full-year sales, comps and EPS guidance for 2017.
“Sprouts is pleased to report strong top-line growth and demonstrate our ability to leverage those sales into exceptional earnings growth for the quarter,” says Amin Maredia, the company’s CEO. “Sprouts’ hallmark of fresh, healthy, affordable products continues to resonate with our customers and positions us as a leader in the industry.”
Sprouts opened eight new stores in the third quarter, giving the chain 285 in 15 states as of Nov. 2.