Sprouts Farmers Market is soaring past expectations to start 2014, reporting an 86 percent increase in profit through the year’s first quarter.
The Phoenix Business Journal reports that the Phoenix-based natural grocer saw its income grow by 86 percent over the first quarter of 2013, totaling about 22 cents per share.
Sprouts experienced a 26 percent jump in revenue, generating $722.6 million across both existing and new stores. The brand opened its first Kansas City location, as well as two in California and one in Oklahoma to bring its total to 172 stores operating in nine states.
“Sprouts’ focus on value is resonating with a broad and growing base of customers who now have the opportunity to purchase healthy food at an affordable price. This has resulted in 28 consecutive quarters of positive same store sales growth and record first quarter financial performance that outperformed our targets,” said Doug Sanders, president and CEO.
“Given our strong business momentum and impressive first quarter results we are increasing our annual guidance, and feel confident in achieving our growth plans,” said Sanders.
Sprouts’ 2014 growth is on the opposite end of the spectrum from competitor Whole Foods, which lowered its sales and profit forecasts for the year despite an increase in revenue.
- 7 common ways to get sued by your employees
- Why it might be time to upgrade your toilet
- Arizona teachers are building a better future by using technology in the classroom
- How to make summer reading fun for the whole family
- How to find relief for chronic joint pain
- Can the NBA Lottery save the Suns?
- Skip Urgent Care: 5 ailments you can treat with telemedicine
- Skin Cancer in Arizona: Stats, facts and new immunotherapy drugs making strides
- Distracted walking injuries end up not so funny
- Scary situations: 5 quick tips before you let a contractor in your home
- Four ways telemedicine is changing the health care industry
- 5 mistakes homeowners make in the spring
- Three rivers run through it: Exploring Arizona's waterways
- Smart home basics: things you need to know to get started
- 5 Surprising things causing back pain
- Arizona agriculture is a $17.1B industry
- Timeline: Arizona's roots in brewing history
- 5 reasons to love the D-backs this season
- Tips for taking your home entertainment experience to the backyard
- Tech-related injuries your parents never experienced
- Workers comp: Signs your co-worker could be a fraud
- Who's the real founder of America's pastime?
- Epidemic rising? What you need to know about Alzheimer's in Arizona
- 5 unforgettable Wooden Award winners
- Family and hard work are keys to success of modern dairy farmers
- Genetic testing could hold answers for colon cancer survival
- Cold beers and baseball: A beer lover's guide to Spring Training
- Telecommuting: 5 tips to make it work for employers and employees
- See how top CFOs feel about economic growth in the Valley
- Migraine myths that keep patients from effective treatments