Intrinsic value of Sprouts Farmers Market - SFM

Previous Close

$22.15

  Intrinsic Value

$28.95

stock screener

  Rating & Target

buy

+31%

Previous close

$22.15

 
Intrinsic value

$28.95

 
Up/down potential

+31%

 
Rating

buy

We calculate the intrinsic value of SFM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  15.30
  14.27
  13.34
  12.51
  11.76
  11.08
  10.47
  9.93
  9.43
  8.99
  8.59
  8.23
  7.91
  7.62
  7.36
  7.12
  6.91
  6.72
  6.55
  6.39
  6.25
  6.13
  6.01
  5.91
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
Revenue, $m
  5,379
  6,146
  6,966
  7,838
  8,759
  9,730
  10,749
  11,816
  12,931
  14,093
  15,304
  16,564
  17,874
  19,236
  20,651
  22,121
  23,650
  25,238
  26,891
  28,609
  30,398
  32,260
  34,201
  36,223
  38,332
  40,532
  42,828
  45,226
  47,731
  50,349
Variable operating expenses, $m
  5,085
  5,803
  6,569
  7,384
  8,246
  9,153
  10,106
  11,103
  12,146
  13,233
  14,308
  15,486
  16,711
  17,984
  19,307
  20,682
  22,110
  23,596
  25,140
  26,747
  28,419
  30,161
  31,975
  33,865
  35,837
  37,894
  40,040
  42,282
  44,624
  47,072
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  5,085
  5,803
  6,569
  7,384
  8,246
  9,153
  10,106
  11,103
  12,146
  13,233
  14,308
  15,486
  16,711
  17,984
  19,307
  20,682
  22,110
  23,596
  25,140
  26,747
  28,419
  30,161
  31,975
  33,865
  35,837
  37,894
  40,040
  42,282
  44,624
  47,072
Operating income, $m
  294
  344
  397
  454
  514
  577
  643
  713
  785
  861
  996
  1,078
  1,163
  1,252
  1,344
  1,440
  1,539
  1,643
  1,750
  1,862
  1,979
  2,100
  2,226
  2,358
  2,495
  2,638
  2,788
  2,944
  3,107
  3,277
EBITDA, $m
  491
  561
  636
  716
  800
  888
  981
  1,079
  1,180
  1,287
  1,397
  1,512
  1,632
  1,756
  1,885
  2,019
  2,159
  2,304
  2,455
  2,612
  2,775
  2,945
  3,122
  3,307
  3,499
  3,700
  3,910
  4,129
  4,357
  4,596
Interest expense (income), $m
  15
  26
  34
  42
  51
  60
  70
  81
  92
  103
  115
  128
  141
  154
  169
  183
  199
  214
  231
  248
  266
  284
  304
  324
  345
  366
  389
  413
  438
  464
  491
Earnings before tax, $m
  268
  310
  355
  403
  453
  507
  563
  621
  682
  746
  868
  937
  1,009
  1,083
  1,161
  1,241
  1,325
  1,412
  1,502
  1,596
  1,694
  1,796
  1,902
  2,013
  2,129
  2,249
  2,375
  2,506
  2,643
  2,787
Tax expense, $m
  72
  84
  96
  109
  122
  137
  152
  168
  184
  201
  234
  253
  272
  293
  313
  335
  358
  381
  406
  431
  457
  485
  514
  544
  575
  607
  641
  677
  714
  752
Net income, $m
  195
  226
  259
  294
  331
  370
  411
  453
  498
  544
  634
  684
  737
  791
  847
  906
  967
  1,031
  1,097
  1,165
  1,237
  1,311
  1,389
  1,470
  1,554
  1,642
  1,734
  1,829
  1,930
  2,034

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,824
  2,084
  2,362
  2,658
  2,970
  3,299
  3,645
  4,007
  4,385
  4,779
  5,190
  5,617
  6,061
  6,523
  7,003
  7,501
  8,020
  8,558
  9,119
  9,701
  10,308
  10,939
  11,597
  12,283
  12,998
  13,744
  14,523
  15,336
  16,186
  17,073
Adjusted assets (=assets-cash), $m
  1,824
  2,084
  2,362
  2,658
  2,970
  3,299
  3,645
  4,007
  4,385
  4,779
  5,190
  5,617
  6,061
  6,523
  7,003
  7,501
  8,020
  8,558
  9,119
  9,701
  10,308
  10,939
  11,597
  12,283
  12,998
  13,744
  14,523
  15,336
  16,186
  17,073
Revenue / Adjusted assets
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
  2.949
Average production assets, $m
  1,409
  1,610
  1,825
  2,054
  2,295
  2,549
  2,816
  3,096
  3,388
  3,692
  4,010
  4,340
  4,683
  5,040
  5,411
  5,796
  6,196
  6,612
  7,045
  7,496
  7,964
  8,452
  8,961
  9,490
  10,043
  10,619
  11,221
  11,849
  12,506
  13,191
Working capital, $m
  -16
  -18
  -21
  -24
  -26
  -29
  -32
  -35
  -39
  -42
  -46
  -50
  -54
  -58
  -62
  -66
  -71
  -76
  -81
  -86
  -91
  -97
  -103
  -109
  -115
  -122
  -128
  -136
  -143
  -151
Total debt, $m
  626
  780
  944
  1,118
  1,302
  1,495
  1,699
  1,912
  2,135
  2,367
  2,609
  2,860
  3,122
  3,394
  3,677
  3,970
  4,276
  4,593
  4,923
  5,266
  5,623
  5,995
  6,383
  6,787
  7,208
  7,647
  8,106
  8,585
  9,085
  9,608
Total liabilities, $m
  1,074
  1,228
  1,391
  1,565
  1,749
  1,943
  2,147
  2,360
  2,583
  2,815
  3,057
  3,308
  3,570
  3,842
  4,125
  4,418
  4,724
  5,041
  5,371
  5,714
  6,071
  6,443
  6,831
  7,235
  7,656
  8,095
  8,554
  9,033
  9,533
  10,056
Total equity, $m
  750
  857
  971
  1,092
  1,221
  1,356
  1,498
  1,647
  1,802
  1,964
  2,133
  2,309
  2,491
  2,681
  2,878
  3,083
  3,296
  3,517
  3,748
  3,987
  4,237
  4,496
  4,767
  5,048
  5,342
  5,649
  5,969
  6,303
  6,652
  7,017
Total liabilities and equity, $m
  1,824
  2,085
  2,362
  2,657
  2,970
  3,299
  3,645
  4,007
  4,385
  4,779
  5,190
  5,617
  6,061
  6,523
  7,003
  7,501
  8,020
  8,558
  9,119
  9,701
  10,308
  10,939
  11,598
  12,283
  12,998
  13,744
  14,523
  15,336
  16,185
  17,073
Debt-to-equity ratio
  0.840
  0.910
  0.970
  1.020
  1.070
  1.100
  1.130
  1.160
  1.180
  1.210
  1.220
  1.240
  1.250
  1.270
  1.280
  1.290
  1.300
  1.310
  1.310
  1.320
  1.330
  1.330
  1.340
  1.340
  1.350
  1.350
  1.360
  1.360
  1.370
  1.370
Adjusted equity ratio
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411
  0.411

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  195
  226
  259
  294
  331
  370
  411
  453
  498
  544
  634
  684
  737
  791
  847
  906
  967
  1,031
  1,097
  1,165
  1,237
  1,311
  1,389
  1,470
  1,554
  1,642
  1,734
  1,829
  1,930
  2,034
Depreciation, amort., depletion, $m
  197
  217
  239
  262
  286
  311
  338
  366
  395
  426
  401
  434
  468
  504
  541
  580
  620
  661
  705
  750
  796
  845
  896
  949
  1,004
  1,062
  1,122
  1,185
  1,251
  1,319
Funds from operations, $m
  393
  444
  498
  556
  617
  681
  749
  819
  893
  970
  1,035
  1,118
  1,205
  1,295
  1,389
  1,486
  1,587
  1,692
  1,801
  1,915
  2,033
  2,156
  2,285
  2,419
  2,558
  2,704
  2,856
  3,014
  3,180
  3,353
Change in working capital, $m
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
  -4
  -5
  -5
  -5
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
Cash from operations, $m
  395
  446
  500
  558
  620
  684
  752
  822
  896
  973
  1,038
  1,122
  1,209
  1,299
  1,393
  1,490
  1,591
  1,697
  1,806
  1,920
  2,039
  2,162
  2,291
  2,425
  2,564
  2,710
  2,863
  3,022
  3,188
  3,361
Maintenance CAPEX, $m
  -122
  -141
  -161
  -183
  -205
  -229
  -255
  -282
  -310
  -339
  -369
  -401
  -434
  -468
  -504
  -541
  -580
  -620
  -661
  -705
  -750
  -796
  -845
  -896
  -949
  -1,004
  -1,062
  -1,122
  -1,185
  -1,251
New CAPEX, $m
  -185
  -201
  -215
  -228
  -241
  -254
  -267
  -280
  -292
  -305
  -317
  -330
  -343
  -357
  -371
  -385
  -400
  -416
  -433
  -450
  -469
  -488
  -508
  -530
  -552
  -576
  -602
  -628
  -656
  -686
Cash from investing activities, $m
  -307
  -342
  -376
  -411
  -446
  -483
  -522
  -562
  -602
  -644
  -686
  -731
  -777
  -825
  -875
  -926
  -980
  -1,036
  -1,094
  -1,155
  -1,219
  -1,284
  -1,353
  -1,426
  -1,501
  -1,580
  -1,664
  -1,750
  -1,841
  -1,937
Free cash flow, $m
  87
  104
  125
  148
  173
  200
  230
  261
  295
  330
  352
  391
  432
  474
  518
  564
  611
  661
  712
  765
  820
  878
  937
  999
  1,063
  1,130
  1,199
  1,271
  1,346
  1,425
Issuance/(repayment) of debt, $m
  144
  153
  164
  174
  184
  194
  204
  213
  223
  232
  242
  252
  262
  272
  283
  294
  305
  317
  330
  343
  357
  372
  388
  404
  421
  439
  459
  479
  500
  523
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  144
  153
  164
  174
  184
  194
  204
  213
  223
  232
  242
  252
  262
  272
  283
  294
  305
  317
  330
  343
  357
  372
  388
  404
  421
  439
  459
  479
  500
  523
Total cash flow (excl. dividends), $m
  231
  257
  288
  322
  357
  394
  433
  474
  517
  562
  594
  643
  693
  746
  801
  858
  917
  978
  1,042
  1,108
  1,178
  1,250
  1,325
  1,403
  1,484
  1,569
  1,658
  1,750
  1,847
  1,948
Retained Cash Flow (-), $m
  -99
  -107
  -114
  -121
  -128
  -135
  -142
  -149
  -155
  -162
  -169
  -176
  -183
  -190
  -197
  -205
  -213
  -221
  -230
  -240
  -249
  -260
  -270
  -282
  -294
  -307
  -320
  -334
  -349
  -365
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  14
  16
  18
  21
  24
  26
  29
  32
  35
  39
  42
  46
  50
  54
  58
  62
  66
  71
  76
  81
  86
  91
  97
  103
  109
  115
  122
  128
  136
  143
Cash available for distribution, $m
  132
  150
  174
  200
  228
  259
  291
  326
  362
  400
  425
  467
  511
  556
  603
  653
  704
  757
  812
  869
  928
  990
  1,054
  1,121
  1,190
  1,262
  1,338
  1,416
  1,498
  1,583
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  127
  138
  152
  165
  177
  188
  197
  204
  208
  210
  202
  199
  194
  187
  177
  166
  153
  139
  125
  110
  96
  82
  69
  57
  46
  37
  29
  22
  16
  12
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Sprouts Farmers Market, Inc. is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers' interest in health and wellness. As of February 23, 2017, the Company operated 256 stores in 14 states. The Company categorizes the varieties of products it sells as perishable and non-perishable. The perishable product categories include produce, meat, seafood, deli and bakery. Its non-perishable product categories include grocery, vitamins and supplements, bulk items, dairy and dairy alternatives, frozen foods, beer and wine, and natural health and body care.

FINANCIAL RATIOS  of  Sprouts Farmers Market (SFM)

Valuation Ratios
P/E Ratio 25.1
Price to Sales 0.8
Price to Book 4.6
Price to Tangible Book
Price to Cash Flow 12.2
Price to Free Cash Flow 43.1
Growth Rates
Sales Growth Rate 12.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 38.9%
Cap. Spend. - 3 Yr. Gr. Rate 15.9%
Financial Strength
Quick Ratio 1
Current Ratio 0
LT Debt to Equity 55.4%
Total Debt to Equity 57.2%
Interest Coverage 14
Management Effectiveness
Return On Assets 9.3%
Ret/ On Assets - 3 Yr. Avg. 9.7%
Return On Total Capital 11.4%
Ret/ On T. Cap. - 3 Yr. Avg. 11.2%
Return On Equity 16.6%
Return On Equity - 3 Yr. Avg. 17.2%
Asset Turnover 2.8
Profitability Ratios
Gross Margin 29.2%
Gross Margin - 3 Yr. Avg. 29.4%
EBITDA Margin 7.3%
EBITDA Margin - 3 Yr. Avg. 8%
Operating Margin 5.3%
Oper. Margin - 3 Yr. Avg. 6%
Pre-Tax Margin 4.9%
Pre-Tax Margin - 3 Yr. Avg. 5.5%
Net Profit Margin 3.1%
Net Profit Margin - 3 Yr. Avg. 3.4%
Effective Tax Rate 37.7%
Eff/ Tax Rate - 3 Yr. Avg. 37.7%
Payout Ratio 0%

SFM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the SFM stock intrinsic value calculation we used $4665 million for the last fiscal year's total revenue generated by Sprouts Farmers Market. The default revenue input number comes from 2017 income statement of Sprouts Farmers Market. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our SFM stock valuation model: a) initial revenue growth rate of 15.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for SFM is calculated based on our internal credit rating of Sprouts Farmers Market, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Sprouts Farmers Market.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of SFM stock the variable cost ratio is equal to 94.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for SFM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Sprouts Farmers Market.

Corporate tax rate of 27% is the nominal tax rate for Sprouts Farmers Market. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the SFM stock is equal to 0.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for SFM are equal to 26.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Sprouts Farmers Market operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for SFM is equal to -0.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $651 million for Sprouts Farmers Market - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 135 million for Sprouts Farmers Market is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Sprouts Farmers Market at the current share price and the inputted number of shares is $3.0 billion.

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IMKTA Ingles Markets 29.55 14.86  str.sell

COMPANY NEWS

▶ Sprouts Farmers Market sets opening date for Towson store   [Jul-12-18 02:39PM  American City Business Journals]
▶ Sprouts Farmers Market sets opening date for Winter Park location   [Jul-11-18 04:00PM  American City Business Journals]
▶ Fresh Market announces plans to close 15 stores   [Jul-09-18 06:51PM  American City Business Journals]
▶ Ted Frumkin brings Sprouts Farmers Market to the Pacific Northwest   [Jun-28-18 08:38PM  American City Business Journals]
▶ Whole Foods rival Sprouts Farmers Market to make its Washington debut   [Jun-22-18 05:03PM  American City Business Journals]
▶ Kroger Earnings: Will Walmart Make a Dent?   [Jun-20-18 09:51AM  Barrons.com]
▶ How to Invest in the Booming Food Delivery Trend   [Jun-17-18 01:17PM  Motley Fool]
▶ Sprouts Farmers Market in Towson schedules hiring fair to find 150 employees   [Jun-07-18 10:58AM  American City Business Journals]
▶ Watch Sprouts CEO explain the grocery store's business model on CNBC   [04:54PM  American City Business Journals]
▶ Shopping center in Chandler featuring the original Sprouts sells for $26 million   [May-23-18 04:59PM  American City Business Journals]
▶ 3 Stocks That Feel Like Disney in 1957   [09:32AM  Motley Fool]
▶ 5 tasty food stocks to buy, and 5 stale ones to sell   [May-22-18 05:39PM  MarketWatch]
▶ TJ Maxx, Big 5 Sporting Goods, more sign Natomas leases   [May-09-18 10:13AM  American City Business Journals]
▶ Sprouts ends Amazon Prime Now delivery partnership   [01:44AM  American City Business Journals]
▶ Sprouts stock price drops as executives lower expectations for the year   [11:57AM  American City Business Journals]
▶ Sprouts Farmers: 1Q Earnings Snapshot   [09:12AM  Associated Press]
▶ Sprouts expands grocery delivery to 3 new markets   [May-01-18 01:23PM  American City Business Journals]
▶ Why Sprouts Farmers Market opened its new store within 5 miles of 3 others   [Apr-12-18 03:00AM  American City Business Journals]
▶ 5 things to know, and when you can shop at Sprouts in Lincoln   [Apr-11-18 11:09AM  American City Business Journals]
▶ New Sprouts store marks completion of redeveloped Scottsdale shopping center   [Apr-09-18 05:49PM  American City Business Journals]
▶ Sprouts to open 13 new stores in the third quarter, including one in midtown Phoenix   [Apr-04-18 03:44PM  American City Business Journals]
▶ Sprouts Farmers Market makes Charlotte debut today (PHOTOS)   [05:00AM  American City Business Journals]
▶ Sprouts increases its credit limit by $250 million   [09:47AM  American City Business Journals]
▶ (Small biz RP) Sprouts to open a new store in midtown Phoenix   [02:05PM  American City Business Journals]
▶ Sprouts Farmers Market picks Towson for second Maryland store   [Mar-14-18 07:50AM  American City Business Journals]
▶ Should Investors Bail Out of Supermarket Stocks?   [Mar-10-18 03:38PM  Motley Fool]
▶ 3 Near-Term Growth Drivers for Sprouts Farmers Market   [Feb-28-18 05:39PM  Motley Fool]
▶ Sprouts Farmers Market Bullish On 2018 Earnings; Stock Tests Key Level   [Feb-22-18 04:01PM  Investor's Business Daily]
▶ Sprouts posts strong 2017 earnings, expects growth to continue   [12:51PM  American City Business Journals]
▶ Sprouts Farmers beats 4Q profit forecasts   [10:36AM  Associated Press]
▶ Heres how Walmart is taking on Amazon in the e-commerce battle   [Feb-08-18 11:16AM  Yahoo Finance Video]
▶ Walmart enters grocery delivery and e-reader business   [Jan-26-18 01:37PM  Yahoo Finance Video]
▶ 5 things to know, and this grocery store has an opening date   [Jan-18-18 11:30AM  American City Business Journals]
▶ Key Updates in the Consumer Sector: January 812   [Jan-17-18 10:31AM  Market Realist]
▶ Sprouts Farmers Market expands Instacart home delivery to Houston area   [09:15AM  American City Business Journals]
▶ Supervalus Gross Margin Fell More in 3Q18   [12:55PM  Market Realist]
▶ How Did Supervalu Perform in 3Q18?   [11:24AM  Market Realist]
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