Sprouts Farmers Market is preparing for a leadership transition as President and COO Nick Konat gets ready to take the helm of the specialty grocer amid an ambitious store expansion plan, continued investment in self-distribution and efforts to strengthen its value proposition with consumers.
The Phoenix, Arizona-based retailer announced in September that Konat will become CEO and join the board of directors effective January 4th, 2027, the first day of Sprouts’ 2027 fiscal year. Jack Sinclair, who has served as CEO since 2019, will transition to executive chairman. Board Chairman Joe Fortunato will become lead independent director on the same date.
“The Board and I have spent significant time and consideration developing our succession plan, and we believe that now is the right time to transition Sprouts to its next generation of leadership,” Sinclair said. “I’ve worked closely with Nick since he joined Sprouts in 2022 and seen firsthand his talent, drive and strong dedication to our people. He played a central role in shaping and executing our strategy, and I have tremendous confidence in his ability to lead the company to new heights.”
Konat joined Sprouts in March 2022 as President and COO and oversees operations, marketing, merchandising, supply chain and innovation. He previously spent more than six years at Petco Health and Wellness Company, culminating in the role of chief merchandising officer, and more than nine years at Target Corporation in merchandising, planning and leadership positions across food and fashion. He began his career at Accenture.
“It will be an honor to serve as the next CEO of Sprouts at this exciting and important time for our company,” Konat said. “We remain focused on executing our growth strategy, expanding into new markets and strengthening our connection with customers as we navigate an evolving consumer environment. I look forward to continuing to work closely with Jack to ensure a seamless transition.”
Konat will inherit a company that has undergone significant changes during Sinclair’s tenure. Since taking the top job in June 2019, the former Walmart U.S. grocery chief and 99 Cents Only Stores CEO has guided Sprouts through the COVID-19 pandemic, periods of elevated inflation and a strategic reset centered on health-focused consumers, smaller-format stores and accelerated unit growth.
Sprouts has grown to more than 480 stores in 25 states with approximately 36,000 team members. The retailer surpassed 400 stores in 2023 and has continued expanding into new regions.
“Jack has guided the company through a significant phase of transformation and value creation. We are extremely grateful for his leadership,” Fortunato said. “The Board believes that Nick’s experience, along with his deep knowledge of our business and Sprouts’ unique culture and market position, make him the ideal leader for the next phase of the company’s journey.”
Store expansion will remain a major focus as Konat moves into the CEO role. Sprouts began opening at least 30 stores annually in 2023, with new locations utilizing its smaller store format, and has targeted at least 40 new store openings in 2026.
The company also has plans to enter New England and the upper Midwest while expanding its presence in Texas. That geographic expansion is tied to Sprouts’ longer-term efforts to build out its self-distribution capabilities.
Sinclair described self-distribution as a “strategic priority” in 2025. During the company’s second-quarter earnings call this year, Konat said the next stage of that initiative would include bringing select private-brand products into existing company-owned distribution facilities.
Konat also will take over as Sprouts works to reinforce its value proposition following a period of softer comparable-store sales. Comparable-store sales growth approached 12% during the first quarter of 2025 before slowing to 1.6% in the fourth quarter and turning negative during the company’s first two quarters of 2026.
Sprouts executives have acknowledged the impact of pressure on consumers while emphasizing that the retailer does not intend to compete solely on price.
“It’s not so much about price investments,” Sinclair said earlier this year during the 38th Annual Roth Conference. “It’s about bringing real clarity to the products that we’re launching and that the price points we launch them at make sense to our customers.”
Sprouts has maintained its position that it is not intended to be a traditional full-basket grocery destination, instead differentiating itself through its specialty and health-focused assortment. The company has also been developing additional ways to connect with value-conscious shoppers, including a loyalty program that is now available chainwide.
During Sprouts’ second-quarter earnings discussion in July, Sinclair said the company remained focused on “areas we can control,” including sharpening value, strengthening local product sourcing, improving the in-store experience, advancing supply chain capabilities and maintaining its new-store pipeline.
Those initiatives will increasingly fall under Konat’s leadership as Sprouts approaches the January transition.
Sprouts Farmers Market operates more than 480 stores across 25 states and employs approximately 36,000 team members.
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