Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET

Company Participants

Susannah Livingston - VP of IR & Treasury

Jack Sinclair - CEO

Chip Molloy - CFO

Conference Call Participants

Ken Goldman - JPMorgan Chase

Leah Jordan - Goldman Sachs

John Heinbockel - Guggenheim Securities

Mark Carden - UBS

Karen Short - Credit Suisse

Krisztina Katai - Deutsche Bank

Michael Montani - Evercore ISI

Rupesh Parikh - Oppenheimer

Kelly Bania - BMO Capital Markets

Robbie Ohmes - Bank of America Merrill Lynch

Chuck Cerankosky - Northcoast Research Partners

Edward Kelly - Wells Fargo

Scott Mushkin - R5 Capital

Operator

Thank you for standing by. And welcome to the Sprouts Farmers Market Second Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions] As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Susannah Livingston, Vice President of Investor Relations and Treasurer. Please go ahead.

Susannah Livingston

Thank you and good afternoon, everyone. We are pleased you are taking the time to join Sprouts on our second quarter 2023 earnings call. Jack Sinclair, Chief Executive Officer and Chip Molloy, Chief Financial Officer are with me today.

The earnings release announcing our second quarter 2023 results, the webcast of this call, and quarterly slides can be accessed through the Investor Relations section of our website at investors@sprouts.com.

During this call management may make certain forward-looking statements, including statements regarding our expectations for 2023 and beyond. These statements involve several risks and uncertainties that could cause results to differ materially from those described in the forward-looking statements. For more information, please refer to the risk factors discussed in our SEC filings and the commentary on forward-looking statements at the end of our earnings release.

Our remarks today include references to non-GAAP measures. Please see the tables in our earnings release to reconcile our non-GAAP measures to the comparable GAAP figures.

With that, let me hand it over to Jack.

Jack Sinclair

Thanks, Susannah. And good afternoon, everyone. I'm pleased to announce another solid quarter for Sprouts Farmers Market. Our 31,000 team members delivered comparable store sales growth of 3.2%, total sales growth of 6%, and adjusted earnings per share growth of 25% in the second quarter. Their efforts to provide a unique in-store and online experience, differentiated products and superior customer service while continue to establish Sprouts as a go to healthy speciality food retailer.