Sprouts Farmers Market, Inc. (SFM) Bundle
A Brief History of Sprouts Farmers Market, Inc. (SFM)
Company Overview
Sprouts Farmers Market, Inc. is a specialty retailer of natural and organic foods headquartered in Phoenix, Arizona. As of 2024, the company operates 388 stores across 23 states.
Financial Performance
| Fiscal Year | Total Revenue | Net Income | Number of Stores |
|---|---|---|---|
| 2023 | $6.78 billion | $209.4 million | 388 |
Key Business Metrics
- Market Capitalization: $4.2 billion
- Employee Count: Approximately 32,000
- Gross Margin: 32.1%
- Same-Store Sales Growth: 3.6% in 2023
Store Expansion Strategy
Geographic Footprint: Concentrated in western and southwestern United States, with recent expansion into southeastern markets.
Stock Performance
| Stock Symbol | Current Stock Price | 52-Week Range |
|---|---|---|
| SFM | $32.45 | $25.12 - $37.87 |
Operational Highlights
- Private Label Products: 20% of total sales
- Online Sales: 8.5% of total revenue
- Average Store Size: 22,000 square feet
A Who Owns Sprouts Farmers Market, Inc. (SFM)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 14,163,817 | 12.84% |
| BlackRock Inc. | 10,541,824 | 9.56% |
| Dimensional Fund Advisors LP | 7,345,471 | 6.66% |
| State Street Corporation | 5,986,333 | 5.43% |
Ownership Structure
Sprouts Farmers Market, Inc. is a publicly traded company listed on NASDAQ under the ticker symbol SFM. The company's ownership is distributed among institutional and individual shareholders.
Top Institutional Investors
- The Vanguard Group, Inc.: 12.84% ownership
- BlackRock Inc.: 9.56% ownership
- Dimensional Fund Advisors LP: 6.66% ownership
- State Street Corporation: 5.43% ownership
Public Float
As of 2024, approximately 88.6% of Sprouts Farmers Market shares are held by public investors.
Insider Ownership
Insider ownership, including executives and board members, represents approximately 1.2% of total outstanding shares.
Sprouts Farmers Market, Inc. (SFM) Mission Statement
Company Overview
Sprouts Farmers Market, Inc. is a specialty retailer of natural, organic, and healthy food products headquartered in Phoenix, Arizona. As of Q4 2023, the company operates 384 stores across 23 states.
Mission Statement Components
The mission statement focuses on providing fresh, natural, and organic products to health-conscious consumers.
| Financial Metric | 2023 Value |
|---|---|
| Annual Revenue | $6.8 billion |
| Net Income | $207.3 million |
| Total Stores | 384 |
Key Strategic Objectives
- Provide high-quality natural and organic products
- Offer competitive pricing on health-focused items
- Support local farmers and sustainable agriculture
Product Offering Breakdown
| Product Category | Percentage of Sales |
|---|---|
| Produce | 22% |
| Grocery | 35% |
| Meat and Seafood | 15% |
| Prepared Foods | 12% |
Market Position
As of 2024, Sprouts maintains a 4.2% market share in the natural and organic grocery segment, with a customer base of approximately 8.5 million weekly shoppers.
How Sprouts Farmers Market, Inc. (SFM) Works
Company Overview
Sprouts Farmers Market, Inc. operates 399 stores across 23 states as of Q4 2023. The company's total revenue for fiscal year 2023 was $6.39 billion. Market capitalization stands at approximately $3.8 billion.
Business Model
Sprouts focuses on natural, organic, and healthy food retail with a specialty grocery store format.
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $6.39 billion |
| Net Income | $228.7 million |
| Number of Stores | 399 |
| States of Operation | 23 |
Store Characteristics
- Average store size: 30,000 square feet
- Product categories: Produce, organic foods, natural supplements
- Average weekly store sales: $750,000
Financial Performance
Gross margin for 2023: 35.2%. Operating expenses: $1.92 billion. Earnings per share: $1.61.
Operational Strategy
- Direct sourcing from local farmers
- Emphasis on fresh, organic produce
- Competitive pricing strategy
Market Presence
Primarily located in western and southwestern United States. Expansion continues with 15-20 new store openings planned for 2024.
| Geographic Region | Number of Stores |
|---|---|
| California | 106 |
| Arizona | 62 |
| Texas | 45 |
| Colorado | 39 |
Employee Information
Total employees: 35,000. Average hourly wage: $15.50.
E-commerce and Digital Strategy
Online sales represent 3.5% of total revenue. Partnerships with Instacart and DoorDash for delivery services.
How Sprouts Farmers Market, Inc. (SFM) Makes Money
Revenue Streams
Sprouts Farmers Market generates revenue primarily through retail grocery sales across multiple product categories.
| Revenue Category | Annual Revenue (2023) | Percentage of Total Revenue |
|---|---|---|
| Fresh Produce | $1.2 billion | 35% |
| Organic Groceries | $890 million | 26% |
| Natural/Specialty Foods | $680 million | 20% |
| Other Grocery Items | $620 million | 19% |
Store Operations
As of 2024, Sprouts operates 405 stores across 23 states with total annual sales of approximately $6.4 billion.
Product Pricing Strategy
- Average gross margin: 32.5%
- Average store sales per square foot: $625
- Private label product margin: 40-45%
Customer Demographics
| Customer Segment | Percentage |
|---|---|
| Health-conscious consumers | 62% |
| Organic food buyers | 48% |
| Higher income households | 55% |
Digital Revenue
Online sales represent 7.2% of total revenue, approximately $461 million in 2023.
Financial Performance
- Total revenue for 2023: $6.4 billion
- Net income: $268 million
- Operating expenses: 27.3% of total revenue
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