Sprouts Farmers Market reported a successful fourth quarter, with an 11 percent sales increase over Q4 last year.
For the fiscal year, which ended December 30, it posted a 12 percent sales increase over last year. The organic retail chain opened 30 stores in 2018, while closing two, and ended the year with 313 stores in 19 states.
It plans to open 30 more stores in 2019 and add the states of Louisiana, New Jersey and Virginia to its list.
“Sprouts delivered 12 percent net sales growth for the year in a competitive and evolving industry, demonstrating the strength of our differentiated model and brand,” said Brad Lukow, interim co-CEO and chief financial officer for Sprouts, in a company report.
The chain showed 2.3 percent comparable store sales growth and two-year comparable store sales growth of 6.9% for the fourth quarter. For the year, the figures were 2.1 percent and 5 percent, respectively.
“Our focus on health, value, selection and service continues to produce solid financial returns, supporting our ongoing expansion that allows Sprouts to reach new customers and markets, positioning us well for long-term growth,” said Jim Nielsen, interim co-CEO, president and chief operating officer, in the report.
“We remain focused on building upon our strategic initiatives in people, systems and product innovation to drive continued enhancements to our experience, reinforcing Sprouts as a trusted brand for health and value.”
