Sprouts Farmers Market reported robust financial results for the third quarter ended September 29, 2024, with net sales reaching $1.95 billion, marking a 13.6% increase year-over-year. The company's comparable store sales grew by an impressive 8.4% during the quarter.
Diluted earnings per share (EPS) for the third quarter stood at $0.91, surpassing analyst estimates by 18.1%. This strong profitability was supported by a significant expansion in gross margin, which increased by 150 basis points to 38.1%.
The company also raised its full-year sales and profitability guidance, reflecting confidence in its continued performance. Online sales demonstrated substantial growth, increasing by 36% and accounting for 14.5% of total sales, driven by partnerships with platforms like Uber Eats, Doordash, and Instacart.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.