Edward Kelly's questions to Sprouts Farmers Market Inc (SFM) leadership • Q3 2024
Question
Edward Kelly inquired about the long-term sustainability of the 10% unit growth goal and the company's strategy regarding store density versus entering new markets, including managing cannibalization.
Answer
CFO Curtis Valentine expressed confidence in reaching high single-digit growth and is working on processes to get back to 10%, noting it's a focus for the next 5-7 years. CEO Jack Sinclair highlighted untapped potential in major markets like Chicago and Boston. He also stated that the company's cannibalization modeling has improved significantly, allowing for smarter decisions on both infill and new market entry.