Sprouts Farmers Market wrapped up its fiscal year 2019 on a high note reporting $5.6 billion in net sales—an 8% increase from 2018. The Phoenix, Arizona-based retailer also maintained a comparable store sales growth of 1.1% and two-year growth of 3.2%.
The retailer’s net and adjusted net income for the year totaled $150 million, compared to the net income of $159 million and adjusted net income of $168 million in 2018.
The year-end numbers come on the heels of a successful fourth quarter for the company that ended with net sales of $1.4 billion—also an 8% increase from the same period in 2018. The net income of the final quarter totaled $32 million compared to the net income of $13 million and adjusted net income of $24 million during the same period in 2018.
“During the fourth quarter, I was encouraged by the Sprouts team’s dedication to driving same store sales growth, while we simultaneously delivered positive margins,” says Jack Sinclair, chief executive officer of Sprouts. “We remain engaged in developing a long-term strategy and are optimistic about the future of Sprouts rooted in a brand that is good for you, good for your family and good for the planet.”
Sprouts projects similar success in 2020, anticipating a first quarter and full-year sales growth of 5.5-6.5%. and a comparable store sales growth to 2019.