Shares of Sprouts Farmers Market Inc. saw big gains on Wednesday following a strong earnings report that beat Wall Street’s expectations.
The Phoenix-based specialty grocer credited its top line increases on better-than-expected sales in its deli area.Jack SinclairSprouts’ deli has gained a lot of attention this year after posts about its low-priced sandwiches – around $5 – went viral on TikTok. “What's happening is it's just a little bit easier for the customer to take one item out of the basket in produce, they'll buy one punnet of strawberries as opposed to two punnets of strawberries,” Sinclair said. “That's certainly a trend that we've seen over the last two or three quarters.”
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