Sprouts Farmers Market, Inc. (NASDAQ:SFM) Q1 2024 Earnings Conference Call May 1, 2024 5:00 PM ET

Company Participants

Susannah Livingston - Vice President of Investor Relations and Treasurer
Jack Sinclair - Chief Executive Officer
Curtis Valentine - Chief Financial Officer

Conference Call Participants

Leah Jordan - Goldman Sachs
Mark Carden - UBS
Michael Montani - Evercore ISI
John Heinbockel - Guggenheim Securities
Rupesh Parikh - Oppenheimer
Scott Mushkin - R5 Capital
Robert Ohmes - Bank of America
Kelly Bania - BMO Capital Markets
Chuck Cerankosky - Northcoast Research
Robert Dickerson - Jefferies
Jessica Taylor - Deutsche Bank
Evan Ketterhagen - Wells Fargo

Operator

Good day, and thank you for standing by. Welcome to the First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker, Susannah Livingston, Vice President, Investor Relations and Treasurer. Please begin.

Susannah Livingston

Thank you, and good afternoon, everyone. We are pleased you are joining Sprouts on our first quarter 2024 earnings call. Jack Sinclair, Chief Executive Officer; and Curtis Valentine, Chief Financial Officer are with me today. The earnings release announcing our first quarter 2024 results, the webcast of this call and financial 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 2024 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 want to start by thanking our 42,000 hardworking team members, who worked together to create a great experience for our customers, which in turn delivered impressive financial results. Our sales have grown by 9% with comparable store sales growing by 4% and diluted earnings per share growing by 14%, compared to adjusted diluted earnings per share in the same period last year.