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Sprouts sales surge 14 percent in Q1

from Food Dive

For the most part, Sprouts remains a strong growth story in the maturing natural and organics space. Its success is evident in the announcement that the grocery retailer is increasing its sales and earnings projections for the year. But there are downsides: During its most recent quarter, Sprouts said direct store expenses increased 18 percent to $229 million, or 20.3 percent of sales, compared to 19.5 percent in the same period in 2016 — a reflection of higher payroll and benefit costs tied to lower comparable store sales growth and an increase in depreciation expenses from higher unit growth in 2016. more

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