Sprouts Farmers Market has reported strong sales growth for the fourth quarter and full year of 2024 and given a positive outlook for 2025.

The company’s fourth-quarter sales rose by 18 per cent, reaching $2 billion compared to 2023. Comparable store sales were up by 11.5 per cent.

For the full year, net revenue hit $7.7 billion, representing a 13 per cent increase from 2023. Same-store sales soared by 7.6 per cent.

After paying down $125 million of debt, the company ended the quarter with $265 million in cash and cash equivalents, with none of its $700 million revolving credit facility in use.

Operating profit was $645 million, with $200 million in net capital expenditures post-landlord reimbursement.

Sprouts Farmers Market opened 33 new stores, taking its total to 440 stores in the country as of December 29.

The company forecasts store sales growth of 10 to 11 per cent in the first quarter of 2025, with an overall annual expectation of between 4.5 and 6.5 per cent. 

Net sales are projected to rise by 10.5 per cent to 12.5 per cent, while adjusted EBIT will grow from $590 million to $610 million. The company plans to launch at least 35 new stores, with net capital expenditures after landlord reimbursement estimated at $230 million to $250 million.