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Sprouts Farmers Market Releases Additional Information Regarding Its Comparable Store Sales Growth For The Seven Weeks Ended November 17, 2013

Stocks in this article: SFM

PHOENIX, Nov. 25, 2013 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (the "Company") (Nasdaq:SFM) today provided additional preliminary information on certain aspects of its 2013 financial performance through November 17, 2013. For the seven weeks ended November 17, 2013, net sales were $341 million, driven primarily by increased comparable store sales growth and strong performance in new stores opened. As previously announced, for the seven weeks ended November 17, 2013, the Company has recorded comparable store sales growth of 13.7%, or 22.8% on a two-year stacked basis pro forma for the 2012 acquisition of Sunflower Farmers Market. Comparable store sales growth has been driven by continued momentum in customer traffic and basket size, and has been strong across geographies, vintages and departments. In addition, the Company's gross margin rate is consistent with the Company's expectations for a gross margin rate for the full year 2013 of 29.5% to 29.7%.

The Company has not begun its normal quarter-end and year-end closing and review procedures and there can be no assurance that final results for the 13-week period ended December 29, 2013 will not differ from the results for this seven-week period. The results for this seven-week period are not for an entire fiscal period, will be subject to quarter-end and year-end closing procedures and/or adjustments and should not be viewed as a substitute for full-fiscal period financial statements prepared in accordance with accounting principles generally accepted in the United States.

Corporate Profile

Sprouts Farmers Market, Inc. is a specialty retailer of natural and organic foods at great prices. We offer 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 14,000 team members and operates 167 stores in eight states.

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