Sprouts Farmers Market continued its growth trajectory by expanding its store footprint and updating its share repurchase plan. The specialty grocer, which had recently reported strong quarterly results, entered several new communities across the country.
On August 22nd, Sprouts opened a store at 110 E. 36th Street in Charlotte, North Carolina. The celebration featured a ribbon cutting, a weekend “pop-up” party, and special offers, including a 20% discount for new rewards program members. The first 200 shoppers also received reusable goodie bags.
The following week, on August 29th, the retailer debuted its Knoxville, Tenn., location at 9622 Kingston Pike, showcasing a wide selection of local products, including fresh produce from nearby farmers.
Sprouts wrapped up the series of openings on September 5th with a new store at 3193 Market Street in Carson City, Nevada, where it hosted similar festivities and promotions for local shoppers.
Meanwhile, Sprouts Farmers Market was in hiring mode for upcoming stores in Woodbridge, New Jersey, Apple Valley, California, and Kyle, Texas, all slated to open in October.
As the grocer expanded its store footprint and built on momentum that included a 17% year-over-year increase in second-quarter net sales, it also positioned itself for growth in other ways. This week, the company announced a new $1 billion share repurchase plan, replacing its previous authorization, which had about $143 million remaining.
“Our ongoing share repurchase program reflects our robust cash flow generation and our board’s confidence in our strategy and the potential of our business. We are committed to delivering long-term value for our investors by prioritizing investments that foster business growth while also returning excess free cash flow to our shareholders through the ongoing repurchase program,” explained CFO Curtis Valentine.
Based in Phoenix, Sprouts employs about 35,000 associates and operates more than 450 stores across 24 states. The grocer ranks No. 52 on The PG 100, Progressive Grocer’s 2025 list of the top food and consumables retailers in North America, and was named PG’s 2024 Retailer of the Year.
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