Previous Close | 30.28 |
Open | 30.34 |
Bid | 29.78 x 800 |
Ask | 29.81 x 900 |
Day's Range | 29.72 - 30.63 |
52 Week Range | 21.18 - 35.34 |
Volume | |
Avg. Volume | 1,735,633 |
Market Cap | 3.343B |
Beta (5Y Monthly) | 0.40 |
PE Ratio (TTM) | 12.67 |
EPS (TTM) | 2.35 |
Earnings Date | Feb 23, 2022 - Feb 28, 2022 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 28.77 |
The grocery-store industry is tough under normal conditions. The COVID-19 pandemic was a boon for grocery stores as spending shifted away from restaurants, but now, spending patterns are getting back to normal. Combine that headwind with historically high inflation and recession fears, and you have the makings of a very difficult environment for grocery stores.
Sprouts Farmers' (SFM) second-quarter comparable store sales increase 2% year over year. For the third quarter, the company expects comparable stores sales growth in the bracket of 1-2%.
Inflation is top of mind as shoppers pick up groceries, but executives at Sprouts think their speciality approach ensures customers will keep coming back even if prices creep up. "People have to eat, so if you're conscious of what you eat, you probably have to come to Sprouts,” CEO Jack Sinclair said during an earnings call on Aug. 3.