Sprouts Farmers Market acquires its only licensed stores
The grocer noted the stores had not been factored in its financial outlook released earlier in March. According to the website for the Chula Vista stores, the locations have been locally owned for the past three decades, previously operating as Boney’s Marketplace and Henry’s Market before becoming Sprouts stores.
As Retail Leader recently reported, Sprouts Farmers Market this year plans to close 11 stores — closures it says were largely deferred due to the COVID-19 pandemic. In their place, Sprouts says it will open approximately 30 new stores in its new smaller format.
The 11 closing stores are about 30% larger than Sprouts’ current store prototype, which is about 23,000 square feet. One of the stores will close during the first quarter and the remaining stores will be shuttered in the second quarter this year, Molloy told investors.
Last year, the grocer opened 16 new stores, nine of which were in its smaller format, and . closed four locations. Sprouts Farmers Market ended 2022 with 386 locations in about two-dozen states with the vast majority located in California.