Sprouts Farmers Market, Haddon Township, N.J. (Photo: Business Wire)
Sprouts Farmers Market continues to expand its portfolio nationwide.
The fast-growing specialty retailer of fresh, natural and organic food has opened its 400th store, in Haddon Township, N.J. As part of its five-year plan, Sprouts is committed to a robust growth strategy, aiming to expand 10% year-over-year.
The Haddon Township location marks Sprouts’ 23rd store opening this year, with its next opening set for Sept. 15, in Tampa. The grocer is on track to open about 30 stores this year.
Each new Sprouts store adheres to the chain’s smaller-format design concept, which features a 23,000-sq-ft. footprint. The space offers offers a farmers market experience with an open layout, community feel and produce at the heart of the market.
“The expansion not only marks a significant milestone, but also represents our success in offering high quality better-for-you products to our customers coast to coast,” said Jack Sinclair, CEO of Sprouts. To our remarkable teams, loyal customers, and supportive partners, thank you for being integral to this incredible accomplishment.”
Sprouts’ sales rose 5% in 2022 to $6.4 billion, with comparable sales growth of 2.2%. 2.39. It reported earnings per share of $2.39, compared to $2.10 in 2021.
Based in Phoenix, Sprouts is currently located in 23 states across the U.S., including Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Kansas, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington.
“Our journey has been nothing short of extraordinary, with our trajectory fueled by our dedication to delivering a wide assortment of organic groceries, local farm-fresh produce, and quality healthy products that cater to any dietary needs,” said Nick Konat, COO, Sprouts. “As we celebrate our 400th store milestone, we now set our sights on the promising path ahead, looking forward to continuing growth and positive impact in the communities we serve.”