$SFM

Sprouts Farmers Market, Inc.

CIK:0001575515|SEC Filings

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Income Statement [Abstract]
Net sales	$ 2,325,804	$ 2,220,602	$ 4,654,983	$ 4,457,038
Cost of sales	1,425,156	1,358,002	2,837,059	2,708,075
Gross profit	900,648	862,600	1,817,924	1,748,963
Selling, general and administrative expenses	682,633	645,127	1,341,414	1,268,353
Depreciation and amortization (exclusive of depreciation included in cost of sales)	43,081	36,606	85,108	71,705
Store closure and other costs, net	760	1,511	1,921	3,217
Income from operations	174,174	179,356	389,481	405,688
Interest expense/(income), net	68	(431)	(61)	(1,355)
Income before income taxes	174,106	179,787	389,542	407,043
Income tax provision	44,911	46,084	96,623	93,314
Net income	$ 129,195	$ 133,703	$ 292,919	$ 313,729
Net income per share:
Basic (in dollars per share)	$ 1.37	$ 1.37	$ 3.10	$ 3.19
Diluted (in dollars per share)	$ 1.37	$ 1.35	$ 3.08	$ 3.16
Weighted average shares outstanding:
Basic (in shares)	93,988	97,858	94,401	98,198
Diluted (in shares)	94,410	98,774	94,995	99,259

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
Operating activities
Net income	$ 292,919	$ 313,729
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	89,951	75,264
Operating lease asset amortization	79,564	70,568
Share-based compensation	15,667	14,403
Deferred income taxes	5,210	2,941
Other non-cash items	2,282	2,712
Changes in operating assets and liabilities:
Accounts receivable	6,327	21,227
Inventories	(9,719)	(7,782)
Prepaid expenses and other current assets	15,694	(719)
Other assets	(2,334)	(2,529)
Accounts payable	14,523	5,664
Accrued liabilities	(58,209)	10,108
Accrued salaries and benefits	(25,537)	(12,877)
Operating lease liabilities	(63,548)	(83,113)
Other long-term liabilities	6,205	741
Cash flows from operating activities	368,995	410,337
Investing activities
Purchases of property and equipment	(189,907)	(120,319)
Cash flows used in investing activities	(189,907)	(120,319)
Financing activities
Payments on finance lease liabilities	(309)	(644)
Repurchase of common stock	(209,999)	(292,223)
Payments of excise tax on repurchases of common stock	(4,172)	(2,091)
Proceeds from exercise of stock options	1,017	1,224
Cash flows used in financing activities	(213,463)	(293,734)
Decrease in cash, cash equivalents, and restricted cash	(34,375)	(3,716)
Cash, cash equivalents, and restricted cash at beginning of the period	260,894	267,213
Cash, cash equivalents, and restricted cash at the end of the period	226,519	263,497
Supplemental disclosure of cash flow information
Cash paid for interest	889	796
Cash paid for income taxes	68,577	82,586
Supplemental disclosure of non-cash activities
Property and equipment in accounts payable and accrued liabilities	34,043	21,651
Excise tax accrued on repurchase of common stock	1,809	2,426
Leased assets obtained in exchange for new operating lease liabilities, net of lease terminations	190,019	147,535
Property acquired through finance obligations	$ 30,443	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Current assets:
Cash and cash equivalents	$ 223,928	$ 257,282
Accounts receivable, net	65,522	65,221
Inventories	436,814	427,095
Prepaid expenses and other current assets	44,563	60,306
Total current assets	770,827	809,904
Property and equipment, net of accumulated depreciation	1,184,636	1,085,356
Operating lease assets, net	1,763,052	1,652,732
Intangible assets	208,215	208,215
Goodwill	381,750	381,750
Other assets	23,156	20,692
Total assets	4,331,636	4,158,649
Current liabilities:
Accounts payable	272,314	291,033
Accrued liabilities	252,191	304,419
Accrued salaries and benefits	70,479	96,017
Current portion of operating lease liabilities	179,295	177,263
Current portion of finance lease and other finance obligations	3,025	2,071
Total current liabilities	777,304	870,803
Long-term operating lease liabilities	1,813,174	1,682,425
Long-term debt and other finance obligations	110,799	81,585
Other long-term liabilities	43,801	40,283
Deferred income tax liability	85,690	80,479
Total liabilities	2,830,768	2,755,575
Commitments and contingencies (Note 6)
Stockholders’ equity:
Undesignated preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.001 par value; 200,000,000 shares authorized, 93,721,860 shares issued and outstanding, June 28, 2026; 95,926,024 shares issued and outstanding, December 28, 2025	94	96
Additional paid-in capital	858,532	841,848
Retained earnings	642,242	561,130
Total stockholders’ equity	1,500,868	1,403,074
Total liabilities and stockholders’ equity	$ 4,331,636	$ 4,158,649