In a release dated July 29th, Sprouts Farmers Market (SFM) reported results for the second quarter of FY 2020 ended June 28th.
For the period, SFM posted net income of $67.0 million on net sales of $1,640 million with an EPS of $0.57. Comparative figures for the second quarter ended June 30th 2019 were net income of $10.6 million on net sales of $1.42 million with an EPS of $0.30.
Jack Sinclair, CEO, stated, "our strong second quarter performance was driven by the strategic changes we have begun to implement across our business and the continued positive impact on demand from the COVID-19 pandemic". He added "as we head into the second half of the year our early strategic wins give me confidence in our long-term direction and our team members dedication that shows me we will continue to provide our communities and customers healthy food for their families".
The company posted total assets of $2,963 million and carries a long-term debt and lease liabilities of $1,544 million.
Sprouts Farmers Market has a market capitalization of $3,120 million and has traded for the past 52-weeks over a range of $13.00 to $28.00 with a 50-week moving average of $24.97.
On Wednesday, July 29th, SFM closed at $27.17. An hour before the close of trading on July 30th, SFM traded at $26.51, down 2.3 percent.
Sprouts Farmers Market generated a trailing twelve-month operating margin of 5.1 percent and a profit margin of 3.6 percent. Return on assets was 6.9 percent and the return on equity attained 34.0 percent. Sprouts employs 35,000 and operates 350 stores in 23 states.