Sprouts Farmers Market Grocery Store — Courtesy: Shutterstock — Image by: Kristi Blokhin
This week, the shop based in Phoenix said that it plans to establish seven additional locations in the state this year, with the first one scheduled to open in St. Johns on Friday. Other locations around Palm Beach County, St. Petersburg, and Orlando will follow.
During its third-quarter earnings announcement in October, the grocery store stated that Hurricane Milton had caused the openings to be postponed.
Sprouts has long recognized the potential in Florida, a rapidly expanding state.
According to a transcript from financial services website AlphaSense, CFO Curtis Valentine stated at the Goldman Sachs Global Retailing Conference in September, “What’s really encouraging is we look at places like Florida where four or five years ago, we had 15 stores and we’re approaching 50 now.” “We’ve witnessed excellent performance and outcomes.”
Miami continues to present opportunities for the brand, Valentine remarked.
Sprouts anticipates having a “pretty good path in the smile of America, as we say, which is up and down the coast and across the South” in the next three years or so, Valentine stated. “After that, we must eventually move to the Midwest, where we have a lot of white space opportunities.”
About 650 individuals will be hired by Sprouts to work in the new stores throughout Florida in a variety of jobs, including senior management, assistant department managers, specialty positions, and clerks.
Stores in Melbourne (March 14), Largo (March 21), and Coconut Creek (April 25) are next on Sprouts’ Florida launch schedule.
With an emphasis on natural and organic goods, Sprouts currently runs over 440 outlets in 24 states. At an investor conference in December, however, CEO Jack Sinclair stated that the firm thinks it can reach 1,200 outlets nationwide.
The grocery store has stated for a number of years that it wants to increase its number of locations by 10% annually. Twelve more locations were opened in 2021, sixteen in 2022, thirty in 2023, and thirty-three in 2024.
At the Nasdaq Investor Conference in December, Valentine stated, “So, it’s been 8 percent the last couple of years.” “We’ll do at least 35 next year, and then we’re going back to that 10 percent.”
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Born and raised in South Florida, Krystal is a recent graduate from the University of Miami with professional writing experience at the collegiate and national news outlet levels. She’s a foodie who loves all things travel, the beach, & visiting new places throughout Florida.