Phoenix-based Sprouts Farmers Market, Inc. released its third quarter earnings Thursday, posting a 21 percent increase in net sales, beating analysts' estimates.
Sprouts (Nasdaq: SFM) brought in revenue of $766.4 million. That is up from the third quarter of 2013, when the grocer generated net sales of $633.6 million. Sales were driven by strong performance of new stores and 9 percent same-store growth.
Sprouts closed the quarter with a net income of $26.1 million or 17 cents per share. That is a 78.8 percent increase from the same quarter last year, when it netted $14.6 million.
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