Sprouts Farmers Market, Inc., on Thursday reported results from the 13-week fourth quarter and the 52-week year ending Dec. 31, touting increases in sales, comparable sales growth and net income for both.
Net sales for the fourth quarter were at $1.1 billion, a 16 percent increase from the same period in 2016, while comparable store sales growth was at 4.6 percent. Net income of $40 million was a 133 percent increase from 2016.
Fiscal year 2017 highlights included new sales of $4.7 billion, which was up 15 percent from 2016, and a 2.9 percent comp store sales growth. Net income was up 27 percent from the previous year to $158 million.
"Sprouts' position of strength continues to grow, demonstrated by 4.6 percent comparable store sales growth for the fourth quarter of 2017 and exceptional EPS growth of 22 percent for the year," says Amin Maredia, Sprouts CEO. "This is an exciting time for Sprouts, as we continue to capitalize on our differentiation of health and value while expanding on our opportunities in product innovation, in-store a digital customer experiences, team member development and technology initiatives to drive operational efficiencies."
Sprouts announced last month that it is expanding its home grocery delivery partnership with Instacart.