Latest news with #CurtisValentine
Yahoo
5 days ago
- Business
- Yahoo
Sprouts Farmers Market, Inc. Revises Credit Facility
PHOENIX, July 25, 2025--(BUSINESS WIRE)--Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced the closing of a $600 million revolving credit facility (the "Revolving Credit Facility") under a credit agreement dated as of July 25, 2025. The Revolving Credit Facility refinances the company's previous $700 million revolving credit facility, which was replaced in connection with Sprouts' entry into the Revolving Credit Facility. The Revolving Credit Facility contains terms and conditions substantially similar to the company's previous facility, with a commitment expiration date of July 2030, revised pricing terms for loans and commitments thereunder, and additional covenant flexibility. At closing, Sprouts had no outstanding borrowings and letters of credit of $23 million outstanding under the Revolving Credit Facility, with a remaining availability of $577 million. "While we plan to continue to fund operations and unit growth through our robust cash flow generation, this facility provides Sprouts with financial flexibility as we grow," said Curtis Valentine, chief financial officer of Sprouts. JPMorgan Chase Bank, N.A., acted as administrative agent, issuing bank, and swingline lender. JPMorgan Chase Bank, N.A., Truist Securities, Inc. and PNC Capital Markets LLC acted as joint lead arrangers and joint bookrunners, Truist Bank and PNC Bank, National Association, acted as co-syndication agents, and Bank of America, N.A., BMO Bank, N.A., and U.S. Bank, National Association acted as co-documentation agents. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our plans regarding unit growth and cash flow generation as well as our company growth. Forward-looking statements are based on our beliefs as well as assumptions made by, and information currently available to, us. The risks and uncertainties to which the forward-looking statements are subject include, without limitation, adverse impacts due to general economic conditions that impact consumer spending or result in competitive responses, our ability to maintain or improve our operating margins, and other risks detailed in the "Special Note Regarding Forward-Looking Statements," "Risk Factors," and other sections of our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Except as required by applicable law or regulation, we disclaim any obligation, and do not intend, to publicly update or review any of our forward-looking statements, whether as a result of new information, future events, or otherwise. Corporate Profile True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide. To learn more about Sprouts, and the good it brings communities, visit View source version on Contacts Investor Contact: Susannah Livingston(602) 682-1584susannahlivingston@ Media Contact: media@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
5 days ago
- Business
- Business Wire
Sprouts Farmers Market, Inc. Revises Credit Facility
PHOENIX--(BUSINESS WIRE)--Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced the closing of a $600 million revolving credit facility (the 'Revolving Credit Facility') under a credit agreement dated as of July 25, 2025. The Revolving Credit Facility refinances the company's previous $700 million revolving credit facility, which was replaced in connection with Sprouts' entry into the Revolving Credit Facility. The Revolving Credit Facility contains terms and conditions substantially similar to the company's previous facility, with a commitment expiration date of July 2030, revised pricing terms for loans and commitments thereunder, and additional covenant flexibility. At closing, Sprouts had no outstanding borrowings and letters of credit of $23 million outstanding under the Revolving Credit Facility, with a remaining availability of $577 million. 'While we plan to continue to fund operations and unit growth through our robust cash flow generation, this facility provides Sprouts with financial flexibility as we grow,' said Curtis Valentine, chief financial officer of Sprouts. JPMorgan Chase Bank, N.A., acted as administrative agent, issuing bank, and swingline lender. JPMorgan Chase Bank, N.A., Truist Securities, Inc. and PNC Capital Markets LLC acted as joint lead arrangers and joint bookrunners, Truist Bank and PNC Bank, National Association, acted as co-syndication agents, and Bank of America, N.A., BMO Bank, N.A., and U.S. Bank, National Association acted as co-documentation agents. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our plans regarding unit growth and cash flow generation as well as our company growth. Forward-looking statements are based on our beliefs as well as assumptions made by, and information currently available to, us. The risks and uncertainties to which the forward-looking statements are subject include, without limitation, adverse impacts due to general economic conditions that impact consumer spending or result in competitive responses, our ability to maintain or improve our operating margins, and other risks detailed in the 'Special Note Regarding Forward-Looking Statements,' 'Risk Factors,' and other sections of our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Except as required by applicable law or regulation, we disclaim any obligation, and do not intend, to publicly update or review any of our forward-looking statements, whether as a result of new information, future events, or otherwise. Corporate Profile True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 35,000 team members and operates more than 450 stores in 24 states nationwide. To learn more about Sprouts, and the good it brings communities, visit
Business Wire
27-05-2025
- Business
- Business Wire
Sprouts Farmers Market to Present at the Deutsche Bank Global Consumer Conference 2025
PHOENIX--(BUSINESS WIRE)--Sprouts Farmers Market, Inc. (Nasdaq: SFM), one of the largest and fastest-growing specialty retailers of fresh, natural and organic food in the United States, today announced the company's participation in the Deutsche Bank Global Consumer Conference in Paris. Jack Sinclair, chief executive officer, and Curtis Valentine, chief financial officer, are scheduled to conduct a fireside chat discussion at 11:15 a.m. CEST / 5:15 a.m. Eastern Daylight Time on Wednesday June 4, 2025. A live webcast of the fireside chat can be accessed through this link. The link will also be available on the Investor Relations section of Sprouts' website: About Sprouts Farmers Market True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Sprouts inspires wellness naturally with a carefully curated assortment of better-for-you products paired with purpose-driven people. The healthy grocer continues to bring the latest in wholesome, innovative products made with lifestyle-friendly ingredients such as organic, plant-based and gluten-free. Headquartered in Phoenix, and one of the largest and fastest growing specialty retailers of fresh, natural and organic food in the United States, Sprouts employs approximately 35,000 team members and operates more than 440 stores in 24 states nationwide. To learn more about Sprouts, and the good it brings communities, visit Sprouts Farmers Market | About Us.
Yahoo
07-05-2025
- Politics
- Yahoo
Watch Live — Charters at a Crossroads: Navigating Era of Legal Change for Public Education
As the U.S. Supreme Court justices consider the constitutionality of religious charters, could a favorable ruling reshape the charter landscape — or undermine their foundational principles? Join The 74 and the Progressive Policy Institute at 2 p.m. ET Thursday for a special conversation about the pivotal case. PPI's Curtis Valentine will lead a conversation with Richard Kahlenberg, Jason Zwara of the National Association of Charter School Authorizers and Eric Paisner of the National Alliance for Public Charter Schools about the potential implications of the decision for charter school governance, state funding, church-state separation and educational equity. Sign up for the Zoom right here or tune in to this page Wednesday at 2 p.m. ET to stream the event. Recent school choice coverage from The 74:
Yahoo
01-05-2025
- Business
- Yahoo
Sprouts Farmers Market Inc (SFM) Q1 2025 Earnings Call Highlights: Strong Sales Growth and ...
Total Sales: $2.2 billion, up 19% compared to the same period last year. Comparable Store Sales: Increased by 11.7%. Diluted Earnings Per Share: $1.81, a 62% increase from the previous year. Gross Margin: 39.6%, an increase of 129 basis points year-over-year. SG&A Expenses: $623 million, with $0.79 basis points of leverage. Net Income: $180 million. Operating Cash Flow: $299 million. Capital Expenditures: $49 million net of landlord reimbursement. Store Openings: 3 new stores, totaling 443 stores across 24 states. Share Repurchases: $219 million returned to shareholders, 1.6 million shares repurchased. Cash and Cash Equivalents: $286 million at the end of the quarter. E-commerce Sales Growth: Approximately 28%, representing 15% of total sales. Sprouts Brand Contribution: 24% of total sales. Warning! GuruFocus has detected 6 Warning Signs with CCI. Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sprouts Farmers Market Inc (NASDAQ:SFM) reported a strong first-quarter sales increase of 19%, driven by an 11.7% rise in comparable store sales and robust new store performance. Diluted earnings per share reached $1.81, marking a 62% increase compared to the same period last year. The company launched a new loyalty program aimed at enhancing customer engagement and driving sales growth. E-commerce sales grew approximately 28%, representing 15% of total sales for the quarter, indicating strong performance across all partners. Sprouts Farmers Market Inc (NASDAQ:SFM) has a healthy balance sheet, generating $299 million in operating cash flow and returning $219 million to shareholders through share repurchases. The company faces supply constraints and strong sales pressure on in-stock levels, resulting in additional shrink leverage. Store closure and other costs totaled approximately $2 million for the quarter, related to exiting leases and disaster recovery charges from the California wildfires. Sprouts Farmers Market Inc (NASDAQ:SFM) anticipates comp sales to moderate as they cycle higher comps from late 2024. The company is experiencing some cannibalization from new store openings, particularly in more established markets, impacting overall sales growth. There are ongoing challenges with self-distribution of fresh meat and seafood, which may not fully benefit the company until next year. Q: How are you thinking about potential reinvestment given the decelerating trend in your comp outlook and macro uncertainties? A: Curtis Valentine, CFO, explained that they are investing in areas like loyalty, supply chain systems, IT, and self-distribution, similar to last year. They aim for long-term sustainable earnings growth and expect growth to moderate as the year progresses. Q: Given the ongoing consumer shift to health and wellness, are you seeing any shift from competitors, and how confident are you in retaining your differentiated position? A: Jack Sinclair, CEO, emphasized their focus on maximizing their offer for health-enthusiast customers. He noted that while competitors may introduce similar products, Sprouts' focus on attributes like organic and gluten-free gives them a competitive edge in a growing market. Q: Can you provide insights into the performance of new stores and any surprises in their productivity? A: Curtis Valentine, CFO, stated that new stores are performing well, with strong comps from the '22 and '23 vintages. The three new stores opened in Q1 are also performing well, contributing positively to overall performance. Q: How is the loyalty program progressing, and are there any positive surprises? A: Nicholas Konat, President and COO, reported positive results from the loyalty program in 35 stores, with strong customer engagement. They plan a national launch in the second half of the year, starting in Arizona, with ongoing enhancements to the program. Q: Are you seeing any changes in consumer behavior due to macroeconomic factors, such as increased shopping at multiple stores? A: Jack Sinclair, CEO, noted that while consumers may shop at more stores during economic pressure, Sprouts' focus on specialist diets and eating at home positions them well to thrive in any economic environment. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
