Rupesh Parikh's questions to Sprouts Farmers Market Inc (SFM) leadership • Q3 2024
Question
Rupesh Parikh inquired about the sustainability of the strong comparable sales momentum into the next year and asked for insights on a normalized SG&A leverage point beyond 2024.
Answer
CEO Jack Sinclair expressed confidence in continued growth, citing a large upside in customer wallet share and effective marketing. CFO Curtis Valentine added that while there were small one-time benefits, the momentum is strong and the company is confident in its 2-4% algorithmic comp in any environment. He also stated that SG&A will normalize in 2025 as one-time investments and incentive costs abate.