Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q2 2022 Earnings Conference Call August 3, 2022 5:00 PM ET

Company Participants

Susannah Livingston - Vice President of Investor Relations & Treasury

Jack Sinclair - Chief Executive Officer

Chip Molloy - Chief Financial Officer

Conference Call Participants

Scott Mushkin - R5 Capital

John Heinbockel - Guggenheim

Kelly Bania - BMO Capital

Ken Goldman - JPMorgan

Edward Kelly - Wells Fargo

Erica Eiler - Oppenheimer

Krisztina Katai - Deutsche Bank

Kendall Toscano - Bank of America

Mark Carden - UBS

Robert Moskow - Credit Suisse

Operator

Good day, and welcome to the Sprouts Farmers Market Second Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Susannah Livingston, Vice President, Investor Relations and Treasury. Please go ahead.

Susannah Livingston

Thank you, and good afternoon, everyone. We are pleased you have taken the time to join Sprouts on our second quarter 2022 earnings call. Jack Sinclair, Chief Executive Officer; and Chip Molloy, Chief Financial Officer, are with me today. The earnings release announcing our second quarter 2022 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 2022 and beyond.

These statements involve several risks and uncertainties that could cause actual 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, along with the commentary on forward-looking statements at the end of our earnings release issued today.

Our remarks today include references to non-GAAP measures. Please see the tables in our earnings release for a reconciliation of our non-GAAP measures to the comparable GAAP figures. With that, let me hand it over to Jack.

Jack Sinclair

Thanks, Susannah, and thanks everyone for joining us today. We are pleased with our performance during the second quarter.

We emphasized bringing back a selling culture, improving in-stocks, amping up our merchandising and testing marketing initiatives. This resulted in better-than-expected financial performance including total sales growth of 5%, comparable store sales of 2% and earnings per share growth of 10%. I want to thank our team members for delivering this performance in what continues to be a very difficult environment for them professionally and personally. They live our values every day and bring positive energy to our stores and ultimately, to our customers.