Sprouts Farmers Market, Inc. Announces Preliminary Fourth Quarter and 2017 Results
09 January 2018 - 8:30AM
In advance of its presentation at the 20th Annual ICR Conference,
Sprouts Farmers Market, Inc. (Nasdaq:SFM) today announced that for
the fourth quarter 2017 it expects to report comparable store sales
growth of 4.6%. For the fiscal year ended December 31, 2017, it
expects to report net sales growth of 15.3%, comparable store sales
growth of 2.9%, and earnings per share slightly above its
previously announced guidance range of $0.98 to
$0.99(1).
"We are pleased to report that our strong performance continues,
a direct result of our unique model offering health and value
across the store, consistent execution and focus against our
strategic initiatives,” said Amin Maredia, chief executive officer
of Sprouts Farmers Market.
The foregoing expected results are preliminary
and unaudited, and remain subject to the completion of normal
year-end accounting procedures and closing adjustments.
(1) Excludes the expected favorable impact resulting from the
federal tax reform enacted prior to the end of fiscal 2017.
This will result in a revaluation of the net deferred tax liability
balance and a consequential reduction in the income tax expense in
the fourth quarter of 2017.
ICR Conference
Amin Maredia, chief executive officer, and Brad Lukow, chief
financial officer will present at the 20th Annual ICR Conference
being held at the JW Marriott Orlando Grande Lakes in Orlando,
Florida on January 9, 2018 at 9:30 a.m. Eastern Time
(ET).
A live webcast of the presentation will be available on the
Investor Relations section of the company’s website at
investors.sprouts.com. A replay will be archived and
available at the same location.
Forward-Looking Statements
Certain statements in this press release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995.
Any statements contained herein that are not statements of
historical fact (including, but not limited to, statements to the
effect that Sprouts Farmers Market or its management "anticipates,"
"plans," "estimates," "expects," or "believes," or the negative of
these terms and other similar expressions) should be considered
forward-looking statements, including, without limitation,
statements regarding the company’s guidance, outlook and
preliminary results. These statements involve certain risks and
uncertainties that may cause actual results to differ materially
from expectations as of the date of this release. These risks
and uncertainties include, without limitation, risks associated
with the company’s ability to successfully compete in its intensely
competitive industry; the company’s ability to successfully open
new stores; the company’s ability to manage its rapid growth; the
company’s ability to maintain or improve its operating margins; the
company’s ability to identify and react to trends in consumer
preferences; product supply disruptions; general economic
conditions; and other factors as set forth from time to time in the
company’s Securities and Exchange Commission filings, including,
without limitation, the company’s Annual Report on Form 10-K.
The company intends these forward-looking statements to speak only
as of the time of this release and does not undertake to update or
revise them as more information becomes available, except as
required by law.
Corporate Profile
Sprouts Farmers Market, Inc. specializes in fresh, natural and
organic products at prices that appeal to everyday grocery
shoppers. Based on the belief that healthy food should be
affordable, Sprouts’ welcoming environment and knowledgeable team
members continue to drive its growth. Sprouts offers a complete
shopping experience that includes an array of fresh produce in the
heart of the store, a deli with prepared entrees and side dishes,
The Butcher Shop, The Fish Market, an expansive vitamins and
supplements department and more. Headquartered in Phoenix, Arizona,
Sprouts employs more than 27,000 team members and operates more
than 280 stores in 15 states from coast to coast. For more
information, visit sprouts.com or @sproutsfm on Twitter.
Source: Sprouts Farmers Market, Inc.Phoenix,
AZ1/8/18
Investor Contact: Susannah
Livingston (602) 682-1584susannahlivingston@sprouts.com
Media Contact: Donna Egan (602)
682-3152media@sprouts.com
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