PHOENIX, March 25, 2014 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (the "Company") (Nasdaq:SFM) today announced that, based on results through March 23, 2014, the Company expects that for the thirteen weeks ending March 30, 2014 net sales will be approximately $720.0 million, compared to $573.7 million for the thirteen weeks ended March 31, 2013, an increase of 26%, driven by comparable store sales growth that the Company expects will be approximately 12.5% for the thirteen weeks ending March 30, 2014, or 20.5% on a two-year stacked basis, and strong performance in new stores. The Company expects gross margin for the thirteen weeks ending March 30, 2014 will be in the range of 30.5% to 31.0%, compared to 30.3% for the same period of fiscal 2013.
This preliminary estimated financial information is unaudited, and does not represent all information necessary for an understanding of the Company's financial condition as of March 30, 2014, and its results of operations for the thirteen weeks ending March 30, 2014. This preliminary estimated financial information is subject to the actual results from March 24 through March 30, 2014, and to the completion of the Company's financial closing procedures. Accordingly, actual results may be different. This preliminary estimated financial information has been prepared by and is the responsibility of Company management. PricewaterhouseCoopers LLP, the Company's independent registered public accounting firm, has not audited, reviewed, compiled or performed any procedures with respect to this preliminary estimated financial information and has not expressed an opinion or any other form of assurance with respect thereto.
About Sprouts Farmers Market
Sprouts Farmers Market is a specialty retailer of fresh, natural and organic foods at great prices. Sprouts Farmers Market offers a complete shopping experience that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, baked goods, dairy products, frozen foods, natural body care and household items catering to consumers' growing interest in health and wellness. Headquartered in Phoenix, Arizona, Sprouts Farmers Market employs more than 15,000 team members and operates 170 stores in nine states.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Any statements contained herein (including, but not limited to, statements to the effect that Sprouts Farmers Market or its management "anticipates," "plans," "estimates," "expects," "believes," or the negative of these terms and other similar expressions) that are not statements of historical fact should be considered forward-looking statements, including, without limitation, the Company's expected net sales, comparable store sales growth and gross margin for the thirteen weeks ending March 30, 2014. 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, the factors as set forth from time to time in the Company's Securities and Exchange Commission filings. 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.
Source:Sprouts Farmers Market