Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results
for the 14-week fourth quarter and 53-week year ended January 3,
2021. Period-over-period increases stated herein
reflect the comparison of 14 and 53 weeks in fourth quarter and
fiscal year 2020 to 13 and 52 weeks in fourth quarter and fiscal
year 2019, respectively, unless otherwise noted.
Fourth Quarter Highlights:
- Net sales of $1.6 billion; a 17%
increase from the same period in 2019
- Comparable store sales growth of 3.7%
and two-year comparable store sales growth of 5.2%, both on a
13-week basis
- Net income of $68 million and adjusted
net income(1) of $70 million; compared to net income and adjusted
net income of $32 million from the same period in 2019; adjusted
net income increased 119% from the same period in 2019
- Diluted earnings per share of $0.58 and
adjusted diluted earnings per share(1) of $0.59; compared to
diluted and adjusted diluted earnings of $0.27 per share from the
same period in 2019
- Adjusted diluted earnings per share of
$0.49, estimated on a 13-week basis, an 81% increase from the same
period in 2019
Fiscal Year 2020
Highlights:
- Net sales of $6.5 billion; a 15%
increase from 2019
- Comparable store sales growth of 6.9%
and two-year comparable store sales growth of 8.0%, both on a
52-week basis
- Net income of $287 million and adjusted
net income(1) of $294 million; compared to net income and adjusted
net income of $150 million from 2019; adjusted net income increased
96% from 2019
- Diluted earnings per share of $2.43 and
adjusted diluted earnings per share(1) of $2.49; compared to
diluted and adjusted diluted earnings per share of $1.25 from
2019
- Adjusted diluted earnings per share of
$2.39, estimated on a 52-week basis, a 91% increase from 2019
“In 2020, we generated record earnings and cash flow from a
15% increase in sales while absorbing costs associated with
a 340% increase in ecommerce sales, paying record bonuses
to our frontline team members, and opening 22 new
stores,” said Jack Sinclair, chief executive officer of
Sprouts Farmers Market. “Executing our strategic initiatives at a
more rapid pace than we originally planned is fueling
these encouraging results and establishing a solid
base from which we can invest and grow. I want to
thank not only our dedicated team members at Sprouts,
but also our supply chain partners,
vendors, farmers and growers, who worked
collectively to make healthy food accessible to our
customers in this extraordinary year.”
________________________________________________________________________________________1
Adjusted net income and adjusted diluted earnings per share,
non-GAAP financial measures, exclude the impact of certain special
items. See the “Non-GAAP Financial Measures” section of this
release for additional information about these items.
Fourth Quarter 2020 Financial Results
Net sales for the fourth quarter 2020 were $1.6 billion, a 17%
increase compared to the same period in 2019. On a 13-week
comparable basis, net sales increased 8% to $1.5 billion. Net sales
growth was driven by a 3.7% increase in comparable store sales, the
53rd week in 2020, continued demand from the COVID-19 pandemic, as
well as solid performance in new stores opened.
Gross profit for the quarter increased 25% to $588 million,
resulting in a gross profit margin of 36.7%, an increase of 235
basis points compared to the same period 2019. A number of
sustainable strategic changes contributed to this increase, from
promotional activities started in the fourth quarter of 2019 to
shrink initiatives, as well as positive leverage from additional
sales, partially accelerated by the COVID-19 landscape. The impact
of the 53rd week on gross profit margin was insignificant.
Selling, general and administrative expenses (“SG&A”) for
the quarter increased $76 million to $464 million, or 28.9% of
sales, a deleverage of 56 basis points compared to the same period
in 2019. This deleverage was primarily driven by increased
ecommerce fees and higher quarterly store performance bonuses,
partially offset by leveraging fixed costs on increased sales and
the 53rd week in 2020. Store operational expenses from COVID-19
were approximately $36 million for the fourth quarter.
Depreciation and amortization for the quarter increased 2.6% to
$31 million, or 2.0% of sales, a decrease of 30 basis points
compared to the same period 2019.
Net income for the quarter was $68 million and diluted earnings
per share (“EPS”) was $0.58, compared with $32 million and $0.27
respectively, in 2019. Excluding the impact of special items,
adjusted net income was $70 million and adjusted diluted EPS was
$0.59; an increase of 119% compared to the same period in 2019 (see
“Non-GAAP Financial Measures”). On an estimated 13-week comparable
basis, adjusted diluted earnings per share increased 81% to
$0.49.
Fiscal Year 2020 Financial Results
Net sales for fiscal year 2020 were $6.5 billion, a 15% increase
compared to 2019. On a 52-week comparable basis, net sales
increased 13% to $6.3 billion. Net sales growth was driven by
demand from the COVID-19 pandemic, contributing to a 6.9% increase
in comparable store sales, strong performance in new stores opened
as well as the 53rd week in 2020.
Gross profit for the year increased 26% to $2.4 billion,
resulting in a gross profit margin of 36.8%, an increase of 315
basis points compared to 2019. A number of sustainable strategic
changes contributed to this increase, from promotional activities
to shrink initiatives, as well as positive leverage from additional
sales, partially accelerated by the COVID-19 landscape. The impact
of the 53rd week on gross profit margin was insignificant.
SG&A for the year increased $314 million to $1.9 billion, or
28.8% of sales, a deleverage of 130 basis points compared to 2019.
Increased operational expenses from COVID-19 were approximately
$176 million for the year, driving the majority of the deleverage.
Additionally, we realized increased ecommerce fees from higher
online sales, partially offset by leveraging fixed costs. The
impact of the 53rd week on the SG&A rate was insignificant.
Depreciation and amortization for the year increased 3.0% to
$124 million, or 1.9% of sales, a decrease of 20 basis points
compared to 2019.
Store closure and other costs, net for the year were a credit of
$0.4 million compared to a cost of $7.3 million in 2019.
Net income for the year was $287 million and diluted EPS was
$2.43, compared with $150 million and $1.25, respectively, in 2019.
Excluding the impact of special items, adjusted net income was $294
million and adjusted diluted EPS was $2.49; an increase of 99%
compared to 2019 (see “Non-GAAP Financial Measures”). On an
estimated 52-week comparable basis, adjusted diluted earnings per
share increased 91% to $2.39.
Unit Growth and Development
During the fourth quarter of 2020, Sprouts opened six new
stores, resulting in a total of 362 stores in 23 states as of
January 3, 2021.
Leverage and Liquidity
Sprouts generated cash from operations of $494 million in fiscal
2020 and invested $96 million in capital expenditures net of
landlord reimbursements, primarily for new stores. During fiscal
year 2020, we paid down $288 million of outstanding debt. We ended
the year with $250 million in loans and $34 million of letters of
credit under our revolving credit facility, as well as $170 million
in cash and cash equivalents.
Full Year 2021 Outlook
The impact that the COVID-19 pandemic will have on the U.S.
economy and the Company’s fiscal 2021 results remain uncertain.
Given the evolving nature of the COVID-19 pandemic on food at home
demand and consumer spending, the Company is planning for fiscal
2021 based on a range of potential outcomes. The following provides
information on our expected outlook for 2021:
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Full-year 2021 Guidance |
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52-week to 52-week |
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Net sales growth |
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Flat to up slightly |
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Unit growth |
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Approximately 20 new
stores |
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Comparable store sales
growth |
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Down low to mid-single
digits |
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Adjusted EBIT |
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$295M to $315M |
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Adjusted diluted earnings per
share |
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$1.78 to $1.91 |
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Effective tax rate |
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Approximately 26% |
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Capital expenditures |
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$140M to $160M |
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(net of landlord
reimbursements) |
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The company’s adjusted diluted earnings per share and adjusted
EBIT outlook for the year do not include charges and costs which
are expected to be similar to those charges and costs excluded from
adjusted diluted earnings per share and adjusted EBIT in prior
periods. Please see the explanation and reconciliation of these
non-GAAP measures to the comparable GAAP measures for the 14 and 53
weeks ended January 3, 2021 and the 13 and 52 weeks ended December
29, 2019 in the tables included below.
Fourth Quarter and Full Year 2020 Conference
Call
Sprouts will hold a conference call at 3 p.m. Mountain Standard
Time (5 p.m. Eastern Standard Time) on Thursday, February 25, 2021,
during which Sprouts executives will further discuss fourth quarter
and fiscal year 2020 financial results.
A webcast of the conference call will be available through
Sprouts’ investor webpage located at investors.sprouts.com.
Participants should register on the website approximately 15
minutes prior to the start of the webcast.
The conference call will be available via the following dial-in
numbers:
- U.S. Participants: 877-398-9481
- International Participants:
+1-408-337-0130
- Conference ID: 1285113
The audio replay will remain available for 72 hours and can be
accessed by dialing 855-859-2056 (toll-free) or 404-537-3406
(international) and entering the confirmation code: 1285113.
Important Information Regarding Outlook
There is no guarantee that Sprouts will achieve its projected
financial expectations, which are based on management estimates,
currently available information and assumptions that management
believes to be reasonable. These expectations are inherently
subject to significant economic, competitive and other
uncertainties and contingencies, many of which are beyond the
control of management. See “Forward-Looking Statements” below.
Forward-Looking Statements
Certain statements in this press release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995.
Any statements contained herein that are not statements of
historical fact (including, but not limited to, statements to the
effect that Sprouts Farmers Market or its management "anticipates,"
"plans," "estimates," "expects," or "believes," or the negative of
these terms and other similar expressions) should be considered
forward-looking statements, including, without limitation,
statements regarding the company’s outlook, growth, opportunities
and long-term strategy. These statements involve certain risks and
uncertainties that may cause actual results to differ materially
from expectations as of the date of this release. These risks and
uncertainties include, without limitation, risks associated with
the impact of the COVID-19 pandemic; the company’s ability to
execute on its long-term strategy; the company’s ability to
successfully compete in its competitive industry; the company’s
ability to successfully open new stores; the company’s ability to
manage its growth; the company’s ability to maintain or improve its
operating margins; the company’s ability to identify and react to
trends in consumer preferences; product supply disruptions; general
economic conditions; accounting standard changes; and other factors
as set forth from time to time in the company’s Securities and
Exchange Commission filings, including, without limitation, the
company’s Annual Report on Form 10-K and Quarterly Reports on Form
10-Q. The company intends these forward-looking statements to speak
only as of the time of this release and does not undertake to
update or revise them as more information becomes available, except
as required by law.
Corporate ProfileSprouts is the place where
goodness grows. True to its farm-stand heritage, Sprouts offers a
unique grocery experience featuring an open layout with fresh
produce at the heart of the store. Sprouts inspires wellness
naturally with a carefully curated assortment of better-for-you
products paired with purpose-driven people. The healthy grocer
continues to bring the latest in wholesome, innovative products
made with lifestyle-friendly ingredients such as organic,
plant-based and gluten-free. Headquartered in Phoenix, and one of
the fastest growing retailers in the country, Sprouts employs
approximately 35,000 team members and operates more than 360 stores
in 23 states nationwide. To learn more about Sprouts, and the good
it brings communities, visit about.sprouts.com.
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Investor
Contact: |
Media
Contact: |
Susannah Livingston |
Diego Romero |
(602) 682-1584 |
(602) 682-3173 |
susannahlivingston@sprouts.com |
media@sprouts.com |
SPROUTS FARMERS MARKET, INC. AND
SUBSIDIARIESCONSOLIDATED STATEMENTS OF
INCOME(IN THOUSANDS, EXCEPT PER SHARE
AMOUNTS)
|
Fourteen weeks ended |
|
|
Thirteen weeks ended |
|
|
Fifty-three weeks ended |
|
|
Fifty-two weeks ended |
|
|
January 3,2021 |
|
|
December 29,2019 |
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January 3,2021 |
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|
December 29,2019 |
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Net sales |
$ |
1,601,834 |
|
|
$ |
1,364,991 |
|
|
$ |
6,468,759 |
|
|
$ |
5,634,835 |
|
Cost of sales |
|
1,013,805 |
|
|
|
896,028 |
|
|
|
4,089,470 |
|
|
|
3,740,017 |
|
Gross profit |
|
588,029 |
|
|
|
468,963 |
|
|
|
2,379,289 |
|
|
|
1,894,818 |
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Selling, general and
administrative expenses |
|
463,635 |
|
|
|
387,481 |
|
|
|
1,863,869 |
|
|
|
1,549,707 |
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Depreciation and amortization
(exclusive of depreciation included in cost of sales) |
|
31,487 |
|
|
|
30,703 |
|
|
|
124,124 |
|
|
|
120,491 |
|
Store closure and other costs,
net |
|
(25 |
) |
|
|
3,864 |
|
|
|
(369 |
) |
|
|
7,260 |
|
Income from operations |
|
92,932 |
|
|
|
46,915 |
|
|
|
391,665 |
|
|
|
217,360 |
|
Interest expense, net |
|
3,106 |
|
|
|
5,195 |
|
|
|
14,787 |
|
|
|
21,192 |
|
Income before income taxes |
|
89,826 |
|
|
|
41,720 |
|
|
|
376,878 |
|
|
|
196,168 |
|
Income tax provision |
|
21,429 |
|
|
|
10,086 |
|
|
|
89,428 |
|
|
|
46,539 |
|
Net income |
$ |
68,397 |
|
|
$ |
31,634 |
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|
$ |
287,450 |
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|
$ |
149,629 |
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Net income per share: |
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Basic |
$ |
0.58 |
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|
$ |
0.27 |
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$ |
2.44 |
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$ |
1.25 |
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Diluted |
$ |
0.58 |
|
|
$ |
0.27 |
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|
$ |
2.43 |
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|
$ |
1.25 |
|
Weighted average shares
outstanding: |
|
|
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|
|
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Basic |
|
117,951 |
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|
|
117,934 |
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|
|
117,821 |
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|
|
119,368 |
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Diluted |
|
118,315 |
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|
|
118,219 |
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|
118,224 |
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|
119,742 |
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SPROUTS FARMERS MARKET, INC. AND
SUBSIDIARIESCONSOLIDATED BALANCE
SHEETS(IN THOUSANDS, EXCEPT SHARE AND PER SHARE
AMOUNTS)
|
January 3,2021 |
|
|
December 29,2019 |
|
ASSETS |
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Current assets: |
|
|
|
|
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Cash and cash equivalents |
$ |
169,697 |
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$ |
85,314 |
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Accounts receivable, net |
|
14,815 |
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|
|
15,713 |
|
Inventories |
|
254,224 |
|
|
|
275,979 |
|
Prepaid expenses and other current assets |
|
27,224 |
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|
|
10,833 |
|
Total current assets |
|
465,960 |
|
|
|
387,839 |
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Property and equipment, net of
accumulated depreciation |
|
726,500 |
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|
|
741,508 |
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Operating lease assets,
net |
|
1,045,408 |
|
|
|
1,028,436 |
|
Intangible assets, net of
accumulated amortization |
|
184,960 |
|
|
|
185,395 |
|
Goodwill |
|
368,878 |
|
|
|
368,078 |
|
Other assets |
|
14,698 |
|
|
|
11,727 |
|
Total assets |
$ |
2,806,404 |
|
|
$ |
2,722,983 |
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LIABILITIES AND
STOCKHOLDERS’ EQUITY |
|
|
|
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Current liabilities: |
|
|
|
|
|
|
|
Accounts payable |
$ |
139,337 |
|
|
$ |
122,839 |
|
Accrued liabilities |
|
143,402 |
|
|
|
136,482 |
|
Accrued salaries and benefits |
|
76,695 |
|
|
|
48,579 |
|
Accrued income tax |
|
— |
|
|
|
2,005 |
|
Current portion of operating lease liabilities |
|
135,739 |
|
|
|
106,153 |
|
Current portion of finance
lease liabilities |
|
959 |
|
|
|
754 |
|
Total current liabilities |
|
496,132 |
|
|
|
416,812 |
|
Long-term operating lease
liabilities |
|
1,069,535 |
|
|
|
1,078,927 |
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Long-term debt and finance
lease liabilities |
|
260,459 |
|
|
|
549,419 |
|
Other long-term
liabilities |
|
40,912 |
|
|
|
41,517 |
|
Deferred income tax
liability |
|
58,073 |
|
|
|
54,356 |
|
Total liabilities |
|
1,925,111 |
|
|
|
2,141,031 |
|
Commitments and
contingencies |
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
Undesignated preferred stock; $0.001 par value; 10,000,000
shares authorized, no shares issued and outstanding |
|
— |
|
|
|
— |
|
Common stock, $0.001 par value; 200,000,000 shares
authorized, 117,953,435 shares issued and outstanding, January
3, 2021; 117,543,668 shares issued and outstanding, December
29, 2019 |
|
118 |
|
|
|
117 |
|
Additional paid-in capital |
|
686,648 |
|
|
|
670,966 |
|
Accumulated other comprehensive loss |
|
(8,474 |
) |
|
|
(4,682 |
) |
Retained earnings (Accumulated deficit) |
|
203,001 |
|
|
|
(84,449 |
) |
Total stockholders’
equity |
|
881,293 |
|
|
|
581,952 |
|
Total liabilities and stockholders’ equity |
$ |
2,806,404 |
|
|
$ |
2,722,983 |
|
SPROUTS FARMERS MARKET, INC. AND
SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH
FLOWS (IN THOUSANDS)
|
Fifty-threeweeks ended |
|
|
Fifty-twoweeks ended |
|
|
January 3,2021 |
|
|
December 29,2019 |
|
Cash flows from operating activities |
|
|
|
|
|
|
|
Net income |
$ |
287,450 |
|
|
$ |
149,629 |
|
Adjustments to reconcile net
income to net cash provided by operating activities: |
|
|
|
|
|
|
|
Depreciation and amortization expense |
|
126,507 |
|
|
|
122,804 |
|
Operating lease asset amortization |
|
99,276 |
|
|
|
81,842 |
|
Store closure and other costs, net |
|
(321 |
) |
|
|
4,113 |
|
Share-based compensation |
|
14,339 |
|
|
|
8,949 |
|
Deferred income taxes |
|
3,717 |
|
|
|
(216 |
) |
Other non-cash items |
|
3,683 |
|
|
|
4,136 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
Accounts receivable |
|
25,977 |
|
|
|
36,062 |
|
Inventories |
|
21,754 |
|
|
|
(11,612 |
) |
Prepaid expenses and other current assets |
|
(14,970 |
) |
|
|
19,208 |
|
Other assets |
|
(5,461 |
) |
|
|
(1,275 |
) |
Accounts payable |
|
20,184 |
|
|
|
9,420 |
|
Accrued liabilities |
|
4,296 |
|
|
|
17,274 |
|
Accrued salaries and benefits |
|
28,116 |
|
|
|
295 |
|
Accrued income tax |
|
(2,005 |
) |
|
|
2,005 |
|
Operating lease liabilities |
|
(120,085 |
) |
|
|
(88,002 |
) |
Other long-term liabilities |
|
1,578 |
|
|
|
578 |
|
Cash flows from operating activities |
|
494,035 |
|
|
|
355,210 |
|
Cash flows used in
investing activities |
|
|
|
|
|
|
|
Purchases of property and
equipment |
|
(121,968 |
) |
|
|
(183,232 |
) |
Cash flows used in investing activities |
|
(121,968 |
) |
|
|
(183,232 |
) |
Cash flows used in
financing activities |
|
|
|
|
|
|
|
Proceeds from revolving credit
facilities |
|
— |
|
|
|
265,405 |
|
Payments on revolving credit
facilities |
|
(288,000 |
) |
|
|
(180,405 |
) |
Payments on finance lease
obligations |
|
(754 |
) |
|
|
(690 |
) |
Repurchase of common
stock |
|
— |
|
|
|
(176,310 |
) |
Proceeds from exercise of
stock options |
|
1,343 |
|
|
|
4,878 |
|
Other |
|
— |
|
|
|
(319 |
) |
Cash flows used in financing activities |
|
(287,411 |
) |
|
|
(87,441 |
) |
Increase in cash, cash equivalents, and restricted cash |
|
84,656 |
|
|
|
84,537 |
|
Cash, cash equivalents, and
restricted cash at beginning of the period |
|
86,785 |
|
|
|
2,248 |
|
Cash, cash equivalents, and
restricted cash at the end of the period |
$ |
171,441 |
|
|
$ |
86,785 |
|
Non-GAAP Financial Measures
In addition to reporting financial results in accordance with
accounting principles generally accepted in the United States
(“GAAP”), the company presents EBITDA, adjusted EBITDA, adjusted
EBIT, adjusted net income and adjusted diluted earnings per share.
These measures are not in accordance with, and are not intended as
alternatives to, GAAP. The company's management believes that this
presentation provides useful information to management, analysts
and investors regarding certain additional financial and business
trends relating to its results of operations and financial
condition. In addition, management uses these measures for
reviewing the financial results of the company, and certain of
these measures may be used as components of incentive
compensation.
The company defines EBITDA as net income before interest
expense, provision for income tax, and depreciation, amortization
and accretion and adjusted EBITDA as EBITDA excluding the impact of
special items. The company defines adjusted EBIT, adjusted net
income and adjusted diluted earnings per share by adjusting the
applicable GAAP measure to remove the impact of special items.
Non-GAAP measures are intended to provide additional information
only and do not have any standard meanings prescribed by GAAP. Use
of these terms may differ from similar measures reported by other
companies. Because of their limitations, non-GAAP measures should
not be considered as a measure of discretionary cash available to
use to reinvest in the growth of the company’s business, or as a
measure of cash that will be available to meet the company’s
obligations. Each non-GAAP measure has its limitations as an
analytical tool, and they should not be considered in isolation or
as a substitute for analysis of the company’s results as reported
under GAAP.
The following table shows a reconciliation of adjusted EBITDA to
net income for the fourteen and fifty-three weeks ended January 3,
2021 and for the thirteen and fifty-two weeks ended December 29,
2019 and a reconciliation of EBIT, net income and diluted earnings
per share to adjusted EBIT, adjusted net income and adjusted
diluted earnings per share for the fourteen and fifty-three weeks
ended January 3, 2021 and for the thirteen and fifty-two weeks
ended December 29, 2019:
SPROUTS FARMERS MARKET, INC. AND
SUBSIDIARIESNON-GAAP MEASURE
RECONCILIATION(UNAUDITED)(IN
THOUSANDS, EXCEPT PER SHARE AMOUNTS)
|
Fourteenweeks ended |
|
|
Thirteenweeks ended |
|
|
Fifty-threeweeks ended |
|
|
Fifty-twoweeks ended |
|
|
January 3,2021 |
|
|
December 29,2019 |
|
|
January 3,2021 |
|
|
December 29,2019 |
|
Net income |
$ |
68,397 |
|
|
$ |
31,634 |
|
|
$ |
287,450 |
|
|
$ |
149,629 |
|
Income tax provision |
|
21,429 |
|
|
|
10,086 |
|
|
|
89,428 |
|
|
|
46,539 |
|
Interest expense, net |
|
3,106 |
|
|
|
5,195 |
|
|
|
14,787 |
|
|
|
21,192 |
|
Earnings before interest and
taxes (EBIT) |
|
92,932 |
|
|
|
46,915 |
|
|
|
391,665 |
|
|
|
217,360 |
|
Special Items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Strategic initiatives (1) |
|
1,802 |
|
|
|
— |
|
|
|
8,835 |
|
|
|
— |
|
Store closures (2) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
508 |
|
Adjusted EBIT |
|
94,734 |
|
|
|
46,915 |
|
|
|
400,500 |
|
|
|
217,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortization and
accretion |
|
32,080 |
|
|
|
31,258 |
|
|
|
126,508 |
|
|
|
122,804 |
|
Adjusted EBITDA |
$ |
126,814 |
|
|
$ |
78,173 |
|
|
$ |
527,008 |
|
|
$ |
340,672 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
68,397 |
|
|
|
31,634 |
|
|
|
287,450 |
|
|
|
149,629 |
|
Special Items: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Strategic initiatives, net of
tax (1) |
|
1,339 |
|
|
|
— |
|
|
|
6,565 |
|
|
|
— |
|
Store closures, net of tax
(2) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
377 |
|
Adjusted Net income |
$ |
69,736 |
|
|
$ |
31,634 |
|
|
$ |
294,015 |
|
|
$ |
150,006 |
|
Diluted earnings per
share |
$ |
0.58 |
|
|
$ |
0.27 |
|
|
$ |
2.43 |
|
|
$ |
1.25 |
|
Adjusted diluted earnings per
share |
$ |
0.59 |
|
|
$ |
0.27 |
|
|
$ |
2.49 |
|
|
$ |
1.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted average
shares outstanding |
|
118,315 |
|
|
|
118,219 |
|
|
|
118,224 |
|
|
|
119,742 |
|
(1) Includes professional fees related to our
ongoing strategic initiatives. After-tax impact includes the tax
benefit on the pre-tax charge.(2) Includes the
direct costs associated with store closures and
relocation. After-tax impact includes the tax benefit on
the pre-tax charge.
Source: Sprouts Farmers Market, Inc.Phoenix,
AZ2/25/2021
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