Supermarket Chain Sprouts Farmers Market Beats On Q3, Comps Up 3.9%, Picks New CFO
Portfolio Pulse from Shivani Kumaresan
Sprouts Farmers Market, Inc (NASDAQ:SFM) reported Q3 FY23 sales growth of 7.7% YoY to $1.71 billion, beating the analyst consensus estimate of $1.68 billion. Comparable store sales increased 3.9%. The company also announced the appointment of Curtis Valentine as its new CFO, effective January 1, 2024. Despite the positive results, SFM shares traded lower by 5.48% at $40.97.
October 31, 2023 | 4:10 pm
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Despite beating Q3 estimates, Sprouts Farmers Market's shares traded lower. The company also announced a new CFO.
Sprouts Farmers Market reported strong Q3 results, beating estimates, and announced a new CFO. However, the market reacted negatively, with shares trading lower. This could be due to a variety of factors not mentioned in the article, such as broader market trends or investor sentiment.
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