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Sprouts Farmers Market reports 5% sales growth in Q2
['Supermarket News Staff']
supermarketnews
Sprouts Farmers Market reported on Thursday a 5% increase in second-quarter sales as new store openings helped offset softer comparable-store performance amid continued pressure on consumer spending.
The Phoenix-based natural and organic grocer said net sales increased to $2.3 billion during the 13-week period ended June 28, up from the same quarter a year earlier.
Comparable-store sales declined 1%.
Related:Ingles posts 3.1% decline in comp-store grocery salesDuring the quarter, Sprouts repurchased approximately 900,000 shares of common stock for $70 million, excluding excise tax.
For the third quarter, Sprouts expects comparable-store sales to range from a decline of 0.5% to an increase of 1.5%.