Sprouts Farmers Market, one of the fastest-growing retailers in the United States, has announced plans to add eight additional locations to its growing roster of fresh, natural and organic grocery stores to jump over the 200 store barrier.
“Each of these stores will bring an estimated 100 jobs to the communities in which they are opening. Twenty new stores either have opened or are scheduled to do so in the first half of the year,” Sprouts said in an April release.
The natural grocer, which offers fresh, natural and organic foods, said that its grocery stores offer consumers a complete healthy grocery store experience featuring fresh produce, bulk foods, dairy, meat and seafood, bakery, vitamins and supplements and more.
In February, Sprouts reported for the 52-week fiscal year ended December 28, 2014, that net sales increased 22% to $2.97 billion. Net sales growth was driven by a 9.9% increase in comparable store sales growth and strong performance in new stores opened. Gross profit for the year increased 22% to $885.2 million, resulting in a margin of 29.8%, an increase of 10 basis points from 2013.
“We are pleased to report another quarter of strong top-line sales growth for Sprouts and solid financial results for the fourth quarter of 2014,” said Doug Sanders, president and CEO of Sprouts Farmers Market.
“We finished 2014 with 191 stores resulting in unit growth of 14%, nearly $3 billion in revenue and industry leading same store sales growth of 9.9%. By leveraging our robust sales and remaining focused on managing store and overhead costs we produced record net income results for 2014.”
This year’s outstanding results further demonstrate our belief that consumers’ desire to eat healthier continues to build across the country and bolsters our confidence in the power of our model and our ability to successfully grow this company from coast to coast, Mr Sanders added.