Krisztina Katai's questions to Sprouts Farmers Market Inc (SFM) leadership • Q3 2024
Question
Krisztina Katai asked about the key drivers behind the strong new store performance and how newer customer households are performing in terms of frequency and wallet share.
Answer
CEO Jack Sinclair attributed strong new store openings to honed-in marketing, better site selection analytics, and strong execution by opening teams. CFO Curtis Valentine added that market density and the smaller store format also boost productivity metrics. Regarding new customers, Curtis noted increased frequency with smaller baskets and strong growth in the 18-34 age cohort, which Jack attributed to a growing interest in health-focused products.