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Sprouts Farmers Market(SFM) - 2022 Q2 - Quarterly Report
2021-08-05 20:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 4, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36029 Sprouts Farmers Market, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...
Sprouts Farmers Market(SFM) - 2021 Q1 - Earnings Call Presentation
2021-05-12 20:26
SPROUTS FARMERS MARKET Q1 2021 Earnings May 2021 Forward-Looking Statements Certain statements in this presentation are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Any statements contained herein (including, but not limited to, statements to the effect that Sprouts Farmers Market, Inc. (the "Company") or its management "anticipates," "plans," "estimates," "expects," "believes," or the negative of these terms and other similar expressions) that are not statements of hi ...
Sprouts Farmers Market(SFM) - 2021 Q1 - Earnings Call Transcript
2021-05-07 03:18
Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q1 2021 Earnings Conference Call May 6, 2021 5:00 PM ET Company Participants Susannah Livingston - VP, IR and Treasury Jack Sinclair - CEO Denise Paulonis - CFO Conference Call Participants Mark Carden - UBS Scott Mushkin - R5 Capital Rupesh Parikh - Oppenheimer Tom Palmer - JPMorgan Renato Basanta - Barclays Chuck Cerankosky - Northcoast Research Kelly Bania - BMO Capital Chris Jordan - Goldman Sachs Edward Kelly - Wells Fargo Operator Ladies and gentlemen, thank y ...
Sprouts Farmers Market(SFM) - 2022 Q1 - Quarterly Report
2021-05-06 20:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 4, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36029 Sprouts Farmers Market, Inc. company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting compa ...
Sprouts Farmers Market(SFM) - 2020 Q4 - Earnings Call Transcript
2021-02-26 03:47
Financial Data and Key Metrics Changes - In Q4 2020, net sales grew 17% to $1.6 billion, with comparable store sales up 3.7% year-over-year [41] - For the full year 2020, net sales increased 15% to $6.5 billion, driven by 22 new stores and a 6.9% comp sales growth [50] - Adjusted EBIT for Q4 2020 was $95 million, up 102% compared to the same period last year, while adjusted EBIT for the full year was $401 million, an increase of 84% [50][52] - Gross profit for Q4 increased by 25% to $588 million, with a gross margin of 36.7%, up 235 basis points year-over-year [47] - Full year gross profit margin increased to 36.8%, up 315 basis points [50] Business Line Data and Key Metrics Changes - E-commerce sales represented 11% of total sales in Q4, with a year-over-year increase of over 290% [44] - Organic products accounted for 23% of total sales, with alternative meats sales increasing by 45% [17] - The company introduced over 5,100 new branded and private label items in 2020, contributing more than 35% of sales growth [19] Market Data and Key Metrics Changes - The company noted a shift in customer behavior during the pandemic, with fewer shopping trips but larger basket sizes [14] - The target customer segments, health enthusiasts and experience seekers, represent approximately $200 billion of food and beverage grocery sales [15] Company Strategy and Development Direction - The company aims to enhance its brand and marketing strategy, focusing on attracting more spending from core customers [27] - Plans to open approximately 20 new stores in 2021, with a focus on smaller store formats to improve box economics [30] - The company is investing in local distribution centers to optimize supply chain efficiencies and support local farmers [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining gross margin improvements realized in 2020, despite uncertainties in the marketplace [56][58] - The company anticipates flat to slightly up net sales in 2021, driven by new store openings and a gradual recovery in comparable store sales [56] - Management emphasized the importance of health and wellness trends, which are expected to persist post-pandemic [58] Other Important Information - The company paid record bonuses to frontline team members during 2020, reflecting its commitment to employee welfare [8] - The company has a low debt position, ending the year with a net debt-to-EBITDA ratio of 0.2 times [53] Q&A Session Summary Question: Insights on margins and future EBIT margins - Management indicated that they believe they can return to IPO EBIT margins, with new store formats being 20% less expensive to build and operate [66][70] Question: Guidance on EBIT split between gross margin and SG&A - Management expects to maintain a majority of the gross margin benefits while managing SG&A expenses efficiently [75][79] Question: Trends in e-commerce versus in-store purchases - E-commerce orders are more than twice the size of in-store orders, contributing positively to profitability [98] Question: Expectations on wage rates and employee compensation - The company has over 80% of full-time team members earning above $15 an hour and is focused on promoting internal talent [109][111] Question: Future of salad bars and customer expectations post-COVID - Management believes hygiene concerns will impact the return of salad bars and similar offerings, with a focus on maintaining safety [113][116]
Sprouts Farmers Market(SFM) - 2020 Q4 - Earnings Call Presentation
2021-02-26 01:47
Q4 & Full-Year 2020 Earnings February 2021 Forward-Looking Statements Certain statements in this presentation are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Any statements contained herein (including, but not limited to, statements to the effect that Sprouts Farmers Market, Inc. (the "Company") or its management "anticipates," "plans," "estimates," "expects," "believes," or the negative of these terms and other similar expressions) that are not statements of historic ...
Sprouts Farmers Market(SFM) - 2021 Q4 - Annual Report
2021-02-25 21:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices and zip code) (480) 814-8016 (Registrant's telephone number, including area code) For the fiscal year ended January 3, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-36029 Sprouts Farmers M ...
Sprouts Farmers Market(SFM) - 2020 Q3 - Earnings Call Transcript
2020-10-29 03:32
Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q3 2020 Results Earnings Conference Call October 28, 2020 5:00 PM ET Company Participants Susannah Livingston - Vice President, Investor Relations and Treasury Jack Sinclair - Chief Executive Officer Denise Paulonis - Chief Financial Officer Conference Call Participants Krisztina Katai - Deutsche Bank Mark Carden - UBS Scott Mushkin - R5 Capital John Parke - Gordon Haskett Ken Goldman - JP Morgan Spencer Hanus - Wolfe Research John Heinbockel - Guggenheim Brandon Fl ...
Sprouts Farmers Market(SFM) - 2020 Q2 - Earnings Call Transcript
2020-07-30 04:09
Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q2 2020 Earnings Conference Call July 29, 2020 5:00 PM ET Company Participants Susannah Livingston - Vice President of Investor Relations and Treasury Jack Sinclair - Chief Executive Officer Denise Paulonis - Chief Financial Officer Conference Call Participants Charles Grom - Gordon Haskett Research Advisors Ken Goldman - JP Morgan Chris Mandeville - Jefferies Kelly Bania - BMO Capital Markets Paul Trussell - Deutsche Bank Karen Short - Barclays Capital Rupesh Parik ...
Sprouts Farmers Market(SFM) - 2020 Q1 - Earnings Call Transcript
2020-05-06 10:43
Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q1 2020 Results Earnings Conference Call May 5, 2020 5:00 PM ET Company Participants Susannah Livingston - Vice President of Investor Relations and Treasury Jack Sinclair - Chief Executive Officer Denise Paulonis - Chief Financial Officer Conference Call Participants Karen Short - Barclays Scott Mushkin - R5 Capital Rupesh Parikh - Oppenheimer Ken Goldman - JPMorgan Paul Trussell - Deutsche Bank Judah Frommer - Credit Suisse Chuck Grom - Gordon Haskett Spencer Hanus ...