Valued at $8.37 billion market cap, Sprouts Farmers Market, Inc. (SFM) retails fresh, natural, and organic food products in the United States. The well-known grocery retailer reported first-quarter results that beat Wall Street’s estimates for revenue and EPS. It reported net sales of $1.88 billion, surpassing the analyst estimates of $1.85 billion.
The retailer’s comparable store sales growth was 4% for the quarter. Further, SFM posted an adjusted EPS of $1.12, which exceeded the consensus estimate of $1.01. Notably, the company opened seven new stores, resulting in 414 stores across 23 states as of March 31, 2024.
