Sprouts keeps sowing seeds of success
Sprouts Farmers Market is cementing its fast-growing reputation in the new year by announcing that it plans to open 30 new stores in 2018.
While many other retailers are scaling back plans for new stores, it seems the Arizona-based natural foods chain can't grow fast enough. It plans to open six new locations in the second quarter of 2018, and one of the six new stores will be located in Simpsonville, S.C. This store will be its first in South Carolina and represents Sprouts’ 16th state and the latest in the grocer’s eastern expansion efforts.
Sprouts says it will open approximately 30 new stores across the country in 2018, marking a near 11% increase in its footprint for the new year.
In 2018, Sprouts will also open stores in Maryland, Pennsylvania and Washington state, bringing its state count to 19 by the end of the year.
The Sprouts stores opening in the second quarter include:
- Augusta, Ga. – 630 Crane Creek Drive
- Charlotte, N.C. – 15121 Ballancroft Parkway
- Lincoln, Calif. – 115 Ferrari Ranch Road
- San Diego, Calif. – 8142 Mira Mesa Boulevard
- Simpsonville, S.C. – 2200 Woodruff Road
- Sparks, Nev. – 125 Disc Drive
Since opening its doors 15 years ago, Sprouts has appealed to shoppers interested in fresh, natural and organic products at value prices and is known for offering knowledgeable team members and a welcoming environment. A robust private label program and a balanced assortment are also helping Sprouts Farmers Market attract scores of shoppers despite increasing competition.
“Sprouts’ knowledgeable and friendly team members are the hallmark of our stores,” said Dan Sanders, chief operations officer. “We’re excited to meet our new neighbors in Simpsonville and introduce them to our fresh, natural and organic products at value prices across the store.”
In its latest fiscal quarter ended Oct. 1, Sprouts lifted its full-year guidance. It now expects sales growth of 14.5% to 15%, EPS of 98 to 99 cents, and same-store sales growth of 2.5% to 3%. The previous guidance was for sales growth of 13% to 14%, EPS of 88 to 92 cents, and same-store sales growth of 1.5% to 2%.
In the third quarter, the company posted net sales of $1.2 billion; a 16% increase from the same period in 2016. Same sales growth was 4.6% and two-year comparable store sales growth was 5.9% in the third quarter. Net income was $31 million; a 32% increase from the same period in 2016.
Sprouts also plans to focus on technology in 2018 and launch a new mobile app.
Headquartered in Phoenix, Ariz., Sprouts employs more than 27,000 team members and operates more than 280 stores in 15 states from coast to coast.