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Sprouts Farmers Market Sales Jump as Customers Welcome New Stores

Julia Sun
8/07/14 5:07 PM EDT
The trend toward more organic food is helping keep the registers ringing at Sprouts Farmers Market. Sales for its organic products grew 20% in the latest quarter, that's from the same period last year. For the second quarter, profit came in at 20 cents a share, a couple cents better than estimates. Revenue rose to $744 million, also above expectations. Customers appear to really like the new stores. CEO Doug Sanders said, "We opened our first store in the Southeast with tremendous response from customers. The early positive reception reinforces the broad appeal of our healthy, value-focused model and demonstrates our ability to deliver on our growth strategy." Sprouts Farmers Market hopes the growth will continue and the share price will reverse direction. Over the past year, shares of Sprouts Farmers Market are down more than 20%. TheStreet's Julia Sun reports from New York.
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