Sprouts Farmers Market Inc. reported its fourth quarter and full-year 2023 earnings on Feb. 22, and the results surpassed Wall Street expectations, sending the grocery retailer's stock price to new highs.
For Q4 2023, Phoenix-based Sprouts reported sales of $1.7 billion, up 8% from the same quarter in 2022. The company also reported quarterly earnings of $50 million, up from $45.1 million during the fourth quarter of 2022.
The good news sent Sprouts’ stock up on Friday. At the end of trading, Sprouts’ shares closed at $59.63, a new all-time high. The share price jumped 11%.
Sprouts ended the year with $6.8 billion in revenue, a 7% year-over-year increase. For the year, comparable store sales grew 3.4%.
