News Briefs

Sprouts Farmers Market raised its full-year outlook on the heels of another strong quarter. 

The fresh, natural and organic foods grocer reported profit of $95.3 million, or $0.94  a share, for the quarter ended June 30, up from $67.3 million, or $0.65 a share, in the year-ago period. Analysts had expected earnings per share of $0.79.

Net sales increased 12% $1.9 billion, topping analysts’ estimates of $1.84 billion. Comparable store sales rose 6.7%.

Sprouts, opened five new stores during the quarter, for a total of 419 stores in 23 states as of June 30, 2024. The company expects to open about 35 new locations this year. Sprouts’ new outposts are in keeping with the company’s smaller-format design concept, which features an approximate 23,000-sq.-ft. footprint. The stores feature a bright and airy farmers market experience with an open layout, community feel and produce at the heart of the space.

"Sprouts saw outstanding second quarter results, thanks to exceptional teamwork and strategic focus,” said Jack Sinclair, CEO of Sprouts Farmers Market, which is based in Phoenix. “Customers are responding to our healthy product assortment and our unique in-store experience. We are excited about the opportunities ahead."

For the full year, Sprouts expects net sales growth between 9% and 10% in fiscal 2024, up from its prior projection of between 7% and 8%. It also increased its same-store sales outlook, to between 4% and 5%, up from 2.5% to 3.5%.

CBRE has secured $69.4 million in financing for SJC Ventures to build an 83,000-sq.-ft. grocery anchored center on a busy intersection in Doral, Fla.

Doral Marketplace will be located approximately 14 miles west of downtown Miami on a 10-acre site at the intersection of Northwest 41st Street and Northwest 107th Avenue. The Doral Park Centre mall and several sit-down restaurants and QSRs are found at the crossing. 

The planned center—already 69% pre-leased to 12 tenants--will be anchored by a national organic grocery brand and will contain five buildings in total.

“This is a really special piece of real estate, and we are very proud to have worked with the SJC team on this project,” said CBR senior VP Richard Henry.. “SJC Ventures is an exceptional developer and Doral Marketplace will make a perfect addition to the neighborhood.”

The Atlanta-based SJC has completed 60 mixed-use, grocery-anchored, and multifamily projects totaling 4.5 million sq. ft.in nine states. Most of its similarly sized centers are anchored by Whole Foods. 

Amazon is delivering its Prime orders faster than ever.

The company said it achieved its fastest Prime delivery speeds ever so far this year in the U.S. and around the world,  with more than five billion items arriving the same or next day globally — an increase of more than 30% year-over-year, the company said. The majority of the items were delivered on behalf of independent sellers via Fulfillment by Amazon.   

In a post on its corporate website, Amazon said the speed improvements came primarily from shortening the distance deliveries had to travel to reach customers by regionalizing its fulfillment network. In the first half of 2024, Amazon reduced the distance items traveled between its U.S. sites and the customer by nearly 10% year-over-year.

“Combining machine learning with regionalized inventory means more orders can ship from a single local site — reducing transportation distance by placing the right products closer to our customers to fulfill orders quickly,” Amazon said. 

Through scaling this effort in the first half of the year, Amazon said it increased the average number of items per box in the U.S. compared to the same period in 2023, which reduced the number of required deliveries for these items.”

Amazon now offers same-day delivery in more than 120 U.S. metro areas.

One of America’s best-known rappers and entrepreneurs is bringing his new marijuana dispensary and coffee shop concept overseas.

Snoop Dogg has opened the second Smoke Weed Every Day (S.W.E.D.) location, in Amsterdam. The opening follows the debut of the concept earlier this month, in Los Angeles. Located on Marnixstraat, one of the Netherlands capital's main streets, S.W.E.D. Amsterdam features an assortment of "high-quality products, exclusive strains, artisanal edibles, and top-tier cannabis accessories," all handpicked by Snoop himself.   

The coffee shop spans two floors, and features interior designs that pay homage to Snoop Dogg’s West Coast upbringing including a paisley printed ceiling, a golden Doberman statue, and a blue “west side” hand symbol. Other decor includes graffiti art and images and phrases associated with Snoop Dogg. The shop also celebrates the history of cannabis culture.

The basement level of the shop is designed to enhance the social experience, with additional seating and a cozy lounge area.

[READ MORE: THC users are more likely to order from these online retailers…]

"Amsterdam has always embraced cannabis, and so have I," said Snoop Dogg. "It's only right that I bring S.W.E.D. global to this iconic city that understands the joy of great cannabis and a good time."

S.W.E.D. Amsterdam will officially open its doors to the public on Aug. 1. The Los Angeles location opened on July 14 and is located near the Los Angeles International Airport.

Chick-fil-A is accelerating its growth in Puerto Rico. 

The quick-service restaurant will expand its footprint on the island from five to 20-25 restaurants by 2030. Chick-fil-A opened its first location in Puerto Rico in 2022.

“Chick-fil-A’s growth in Puerto Rico creates a tremendous opportunity not only for our business, but for economic development and local community impact across the Island,” said Paul Trotti, VP, international, Chick-fil-A. “We’re pleased to bring our authentic Chick-fil-A experience to more people across Puerto Rico, while also serving local communities and living out our commitment to having a positive influence on all we come into contact with.”

Chick-fil-A has more than 3,000 restaurants across the United States, Canada and Puerto Rico. In 2023, the company said it planned to expand by 2030 into Europe and Asia. Chick-fil-A expects to launch in the U.K. in early 2025, aiming to open five locally owned and operated restaurants in the first two years.

[READ MORE: Chick-fil-A opens its first-ever mobile pickup-only restaurant]

The company’s planned expansion in Puerto Rico is supported by a government tax decree allowing Chick-fil-A to build restaurants in “qualified opportunity zones.” 

“It is our duty to support the growth of companies like Chick-fil-A, which contribute to economic development by creating jobs and social wellbeing, demonstrating with philanthropic actions a high sense of solidarity with others and community commitment,” said Manuel Cidre, secretary of the Department of Economic Development and Commerce. “… they [Chick-fil-A] have proven to provide high-quality products and services, which has allowed them to achieve success in such a short time in Puerto Rico."

Macy’s has promoted Sabina Israelian-Garcia to senior VP, general merchandising manager of home, foods and toys. 

In her new role, she will be responsible for leading and driving the merchandise organization of the three categories, with a focus on diversifying product assortment and strengthening brand partnerships. Macy’s has made a major commitment to toys via its partnership with WHP Global, parent company of Toys”R”Us, which has rolled out in-store shops across Macy’s stores nationwide.

Israelian-Garcia, who most recently served as Macy’s VP divisional business manager of “Big Ticket” merchandise, joined the company in 2023 from Texas grocer H-E-B, where she was group VP of merchandise, drug store and beauty.

Prior to H-E-B, Israelian-Garcia spent nearly 12 years at Macy’s, including serving as group VP, divisional business manager, intimate apparel, sleepwear & hosiery from 2017 to 2020. Earlier in her career, she was a manager of strategic planning at West Elm and a merchandise planner at Bloomingdale’s.

[READ MORE: Macy’s to close 150 nameplate stores; expand off-mall and luxury formats]

"Sabina's strategic vision and leadership, coupled with her experience in managing the business holistically from operations to product, will advance our merchandising initiatives as part of our company’s Bold New Chapter strategy," stated Nata Dvir, Macy’s chief merchandising officer. "Her deep product knowledge and commitment to cultivating a results-oriented, positive culture are key to driving growth within our home, food, and toys categories."