Exhibit 99.1
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Investor Contact: Media Contact:
Susannah Livingston media@sprouts.com
(602) 682-1584
susannahlivingston@sprouts.com
Sprouts Farmers Market, Inc. Reports First Quarter 2026 Results
PHOENIX, Ariz. – (Business Wire) – April 29, 2026 – Sprouts Farmers Market, Inc. (Nasdaq: SFM) today reported results for the 13-week first quarter ended March 29, 2026.

“The first quarter played out largely as we expected,” said Jack Sinclair, chief executive officer of Sprouts Farmers Market. “We continue to focus on accelerating customer engagement, foraging and discovery, building an advantaged supply chain, and expanding access to healthy food. We remain confident in our long-term potential and expect sequential improvement in the business throughout 2026 as we reaccelerate growth. I want to thank our team members for their diligence in executing our strategy and for their dedication to serving our customers.”
First Quarter Highlights:
•Net sales totaled $2.3 billion; a 4% increase from the same period in 2025
•Comparable store sales of (1.7)%
•Diluted earnings per share of $1.71; compared to diluted earnings per share of $1.81 in the same period in 2025
•Opened 6 new stores, resulting in 483 stores in 25 states as of March 29, 2026
Leverage and Liquidity in First Quarter 2026
•Ended the quarter with $252 million in cash and cash equivalents and zero balance on our $600 million revolving credit facility
•Repurchased 1.9 million shares of common stock for a total investment of $140 million, excluding excise tax
•Generated cash from operations of $235 million and invested $98 million in capital expenditures, net of landlord reimbursement, year-to-date thru March 29, 2026
Second Quarter and Full-Year 2026 Outlook
The following provides information on our second quarter 2026 outlook:
•Comparable store sales: (2)% to 0%
•Diluted earnings per share: $1.32 to $1.36
The Company notes the fiscal year 2026 will be a 53-week year, with the extra week falling in the fourth quarter.
We estimate the impact from the 53rd week to be approximately $200 million in sales, $28 million in income before interest and taxes, and $0.21 in diluted earnings per share.

The following provides information on our full-year 2026 outlook (on a 52 week basis):
•Net sales growth: 4.5% to 6.5%
•Comparable store sales: (1)% to 1%


•EBIT: $675 million to $695 million
•Diluted earnings per share: $5.32 to $5.48
•Unit growth: 40+ new stores
•Capital expenditures (net of landlord reimbursements): $280 million to $310 million
First Quarter 2026 Conference Call
Sprouts will hold a conference call at 5:00 p.m. Eastern Time on Wednesday, April 29, 2026, during which Sprouts executives will further discuss first quarter 2026 financial results.
A webcast of the conference call will be available through Sprouts’ investor relations webpage, accessible via the following link. Participants should register on the website approximately ten minutes prior to the start of the webcast.
A webcast replay will be available at approximately 8:00 p.m. Eastern Time on April 29, 2026. This can be accessed with the following link.
Important Information Regarding Outlook
There is no guarantee that Sprouts will achieve its projected financial expectations, which are based on management estimates, currently available information and assumptions that management believes to be reasonable. These expectations are inherently subject to significant economic, competitive and other uncertainties and contingencies, many of which are beyond the control of management. See “Forward-Looking Statements” below.
Forward-Looking Statements
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Any statements contained herein that are not statements of historical fact (including, but not limited to, statements to the effect that Sprouts Farmers Market or its management "anticipates," "plans," "estimates," "expects," "will," "believes," or "projects," or the negative of these terms and other similar expressions) should be considered forward-looking statements, including, without limitation, statements regarding the company’s outlook, growth, opportunities and long-term strategy. These statements involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this release. These risks and uncertainties include, without limitation, the company’s ability to execute on its long-term strategy; the company’s ability to successfully compete in its competitive industry; the company’s ability to successfully open new stores; the company’s ability to manage its growth; the company’s ability to maintain or improve its operating margins; the company’s ability to identify and react to trends in consumer preferences in a timely manner; product supply disruptions; equipment supply disruptions; general economic conditions that impact consumer spending or result in competitive responses; accounting standard changes; potential inflationary and/or deflationary trends; tariffs; and other factors as set forth from time to time in the company’s Securities and Exchange Commission filings, including, without limitation, the company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The company intends these forward-looking statements to speak only as of the time of this release and does not undertake to update or revise them as more information becomes available, except as required by law.
Corporate Profile
Sprouts Farmers Market is one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States. Sprouts helps people live and eat better with fresh produce at the heart of the store and delicious discoveries for every dietary lifestyle. Always foraging for what’s fresh and innovative, Sprouts offers a carefully curated assortment of products that inspire wellness naturally, including organic, gluten-free, plant-based and non-GMO favorites. Headquartered in Phoenix, AZ, Sprouts employs more than 36,000 team members and operates more than 480 stores in 25 states nationwide. To learn more about Sprouts and the role it plays in its communities, visit sprouts.com/about/.


SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Thirteen weeks ended
March 29, 2026March 30, 2025
Net sales$2,329,179 $2,236,436 
Cost of sales1,411,903 1,350,073 
Gross profit917,276 886,363 
Selling, general and administrative expenses658,781 623,226 
Depreciation and amortization (exclusive of depreciation included in cost of sales)42,027 35,099 
Store closure and other costs, net1,161 1,706 
Income from operations215,307 226,332 
Interest income, net(129)(924)
Income before income taxes215,436 227,256 
Income tax provision51,712 47,230 
Net income$163,724 $180,026 
Net income per share:
Basic$1.73 $1.83 
Diluted$1.71 $1.81 
Weighted average shares outstanding:
Basic94,81398,537
Diluted95,58599,719


SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
March 29, 2026December 28, 2025
ASSETS
Current assets:
Cash and cash equivalents$252,161 $257,282 
Accounts receivable, net63,313 65,221 
Inventories419,178 427,095 
Prepaid expenses and other current assets37,642 60,306 
Total current assets772,294 809,904 
Property and equipment, net of accumulated depreciation1,128,928 1,085,356 
Operating lease assets, net1,756,367 1,652,732 
Intangible assets208,215 208,215 
Goodwill381,750 381,750 
Other assets21,820 20,692 
Total assets$4,269,374 $4,158,649 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$260,737 $291,033 
Accrued liabilities311,281 304,419 
Accrued salaries and benefits61,461 96,017 
Accrued income tax16,396 — 
Current portion of operating lease liabilities185,374 177,263 
Current portion of finance lease and other finance obligations2,549 2,071 
Total current liabilities837,798 870,803 
Long-term operating lease liabilities1,775,890 1,682,425 
Long-term debt and other finance obligations97,044 81,585 
Other long-term liabilities40,853 40,283 
Deferred income tax liability83,549 80,479 
Total liabilities2,835,134 2,755,575 
Commitments and contingencies
Stockholders’ equity:
Undesignated preferred stock; $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding— — 
Common stock, $0.001 par value; 200,000,000 shares authorized, 94,556,903 shares issued and outstanding, March 29, 2026; 95,926,024 shares issued and outstanding, December 28, 2025
95 96 
Additional paid-in capital850,411 841,848 
Retained earnings583,734 561,130 
Total stockholders’ equity1,434,240 1,403,074 
Total liabilities and stockholders’ equity$4,269,374 $4,158,649 


SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS)
Thirteen weeks ended
March 29, 2026March 30, 2025
Operating activities
Net income$163,724 $180,026 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense44,276 36,820 
Operating lease asset amortization38,598 34,689 
Share-based compensation8,563 6,656 
Deferred income taxes3,070 4,595 
Other non-cash items1,785 1,532 
Changes in operating assets and liabilities:
Accounts receivable2,894 10,763 
Inventories7,917 3,049 
Prepaid expenses and other current assets21,293 (236)
Other assets(412)(357)
Accounts payable3,147 54,084 
Accrued liabilities190 6,102 
Accrued salaries and benefits(34,556)(29,777)
Accrued income tax16,396 33,922 
Operating lease liabilities(41,570)(41,249)
Other long-term liabilities(28)(1,530)
Cash flows from operating activities235,287 299,089 
Investing activities
Purchases of property and equipment(101,151)(59,479)
Cash flows used in investing activities(101,151)(59,479)
Financing activities
Payments on finance lease liabilities(225)(326)
Repurchase of common stock(140,000)(218,762)
Cash flows used in financing activities(140,225)(219,088)
(Decrease)/Increase in cash, cash equivalents, and restricted cash(6,089)20,522 
Cash, cash equivalents, and restricted cash at beginning of the period260,894 267,213 
Cash, cash equivalents, and restricted cash at the end of the period$254,805 $287,735 


Non-GAAP Financial Measures
In addition to reporting financial results in accordance with accounting principles generally accepted in the United States (“GAAP”), the company presents EBITDA and EBIT. These measures are not in accordance with, and are not intended as alternatives to, GAAP. The company's management believes that this presentation provides useful information to management, analysts and investors regarding certain additional financial and business trends relating to its results of operations and financial condition. In addition, management uses these measures for reviewing the financial results of the company, and certain of these measures may be used as components of incentive compensation.
The company defines EBITDA as net income before interest expense, provision for income tax, and depreciation, amortization and accretion. The company defines EBIT as net income before interest expense and provision for income tax.
Non-GAAP measures are intended to provide additional information only and do not have any standard meanings prescribed by GAAP. Use of these terms may differ from similar measures reported by other companies. Because of their limitations, non-GAAP measures should not be considered as a measure of discretionary cash available to use to reinvest in the growth of the company’s business, or as a measure of cash that will be available to meet the company’s obligations. Each non-GAAP measure has its limitations as an analytical tool, and they should not be considered in isolation or as a substitute for analysis of the company’s results as reported under GAAP.
The following table shows a reconciliation of EBIT and EBITDA to net income for the thirteen weeks ended March 29, 2026 and March 30, 2025:



SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
NON-GAAP MEASURE RECONCILIATION
(UNAUDITED)
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Thirteen weeks ended
March 29, 2026March 30, 2025
Net income$163,724 $180,026 
Income tax provision51,712 47,230 
Interest (income) expense, net(129)(924)
Earnings before interest and taxes (EBIT)215,307 226,332 
Depreciation, amortization and accretion44,276 36,820 
EBITDA$259,583 $263,152 
###

Source: Sprouts Farmers Market, Inc
Phoenix, AZ
4/29/26