April 26, 2024 2:01 am
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Sprouts’ latest real estate strategy means new stores with fresh layouts, but also some closures

By Brandon Brown | Phoenix Business Journal

Sprouts Farmers Market Inc. (Nasdaq: SFM), a Phoenix-based specialty grocery chain, unveiled a new real estate strategy during an earnings call on last week, which will lead to a lot of new stores opening and some older ones closing.

Sprouts — which reported an annual revenue in 2022 of $6.4 billion, up 5% from the previous year and an earnings of $261 million, a 7% increase — announced that in 2023 it will open a total of 30 new stores across the country.

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