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Investor Contact : Susannah Livingston ( 602 ) 682-1584 susannahlivingston@sprouts.com SPROUTS FARMERS MARKET Media Contact : Diego Romero ( 602 ) 682-3173 media@sprouts.com Sprouts Farmers Market , Inc. Reports Third Quarter 2021 Results PHOENIX , Ariz . - ( Globe Newswire ) - November 4 , 2021 - Sprouts Farmers Market , Inc. ( Nasdaq : SFM ) today reported results for the 13 - week third quarter ended October 3 , 2021 . Third Quarter Highlights ( ¹ ) : Net sales of $ 1.5 billion ; a 4 % decrease from the same period in 2020 and a 5 % increase from the same period in 2019 Comparable store sales growth of -5.4 % and two - year comparable store sales growth of -2.1 % ( ² ) Net income of $ 64 million ; compared to net income of $ 60 million and adjusted net income ( 3 ) of $ 62 million in the same period in 2020 ; and compared to net income of $ 26 million from the same period in 2019 Diluted earnings per share of $ 0.56 ; compared to $ 0.51 diluted earnings per share and adjusted diluted earnings per share ( 3 ) of $ 0.52 in the same period in 2020 ; and compared to $ 0.22 diluted earnings per share from the same period in 2019 " Our third quarter sequential improvement in sales and robust profits , combined with the early performance of our two newly designed stores , give us confidence we are making progress in transforming Sprouts , built on the long - standing foundation of a farmer's market heritage , " said Jack Sinclair , chief executive officer of Sprouts Farmers Market . " Moving forward , while there is work to be done , we are supported by a robust unit growth story , passionate team members , a loyal customer base , and our fresh differentiation , providing the ingredients for long - term success as a specialty store destination . " 1 The Company's results for the third quarter of 2020 were significantly impacted by the COVID - 19 pandemic . Accordingly , this presentation also includes certain comparisons to results in the third quarter of 2019 . 2 To account for the 53rd week in fiscal 2020 we shifted each week back one week , thereby ignoring the first week of fiscal 2020 to better align holidays for comparison purposes . More information can be found at investors.sprouts.com under additional reports . 3 Adjusted net income and adjusted diluted earnings per share , non - GAAP financial measures , exclude the impact of certain special items . There were no such adjustments for the quarter ended October 3 , 2021. See the " Non - GAAP Financial Measures " section of this release for additional information about these items . Third Quarter 2021 Financial Results Net sales for the third quarter of 2021 were $ 1.5 billion , a 4 % decrease compared to the same period in 2020. The sales decrease was primarily due to a decrease of 5.4 % in comparable store sales , partially offset by sales from new stores opened . Gross profit for the quarter decreased 7.7 % to $ 540 million , resulting in a gross profit margin of 35.8 % , a decrease of 131 basis points compared to the same period in 2020. This decrease was driven by the anniversary of elevated demand during the height of the pandemic and the balancing of cost inflation and retail pricing during the quarter . Our efficient promotions , attractive everyday pricing , shrink improvement and differentiated assortment continue to result in margins superior to our historic trends , contributing to a 265 basis point increase over third quarter 2019 . Selling , general and administrative expenses ( " SG & A " ) for the quarter decreased $ 52 million to $ 423 million , or 28 % of sales . This primarily reflects lower COVID - 19 pandemic response costs , including incentive compensation in the prior year , along with lower marketing and e - commerce expenses . Compared to the same period in 2019 , SG & A increased 4.7 % .