PHOENIX, AZ – This week, Sprouts Farmers Market reported results for the 13-week fourth quarter and 52-week year that ended December 31, 2017, witnessing overall growth across the board. As a result, the company announced that the new fiscal year will be dedicated to investing its $10 million savings from the Tax Cuts and Jobs Act into its team member wages and benefits, as well as plans to repurchase up to $350 million of its outstanding common stock, as authorized by its Board of Directors.

“Sprouts’ position of strength continues to grow, demonstrated by 4.6 percent comparable store sales growth for the fourth quarter of 2017 and exceptional EPS growth of 22 percent for the year,” Amin Maredia, Chief Executive Officer, said in a company press release. “This is an exciting time for Sprouts, as we continue to capitalize on our differentiations of health and value while expanding on our opportunities in product innovation, in-store and digital customer experiences, team member development, and technology initiatives to drive operational efficiencies.”

Fourth Quarter Highlights included:

• Net sales of $1.1 billion; a 16% increase from the same period in 2016
• Comparable store sales growth of 4.6% and two-year comparable store sales growth of 5.3%
• Net income of $40 million; a 133% increase from the same period in 2016
• Diluted earnings per share of $0.29; a 142% increase from the same period in 2016
• Excluding the non-cash benefit of $18.7 million related to the enactment of the Tax Cuts and Jobs Act ⁽¹⁾, diluted earnings per share of $0.16; a 33% increase from the same period in 2016

Fiscal Year 2017 Highlights included:

• Net sales of $4.7 billion; a 15% increase from the same period in 2016
• Comparable store sales growth of 2.9% and two-year comparable store sales growth of 5.6%
• Net income of $158 million; a 27% increase from the same period in 2016
• Diluted earnings per share of $1.15; a 39% increase from the same period in 2016
• Excluding the non-cash benefit of $18.7 million related to the enactment of the Tax Cuts and Jobs Act ⁽¹⁾, diluted earnings per share of $1.01; a 22% increase from the same period in 2016
• Repurchased 9.7 million common shares in fiscal 2017 for a total investment of $203 million

For the full details outlined in the financial report, click here. For more news like this, keep checking back with AndNowUKnow.

Sprouts Farmers Market