$SFM
Sprouts Farmers Market, Inc.

2014 Q2 Form 10-Q Financial Statement

#000119312514300800 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2013 Q2
Revenue $743.8M $622.4M
YoY Change 19.51% 65.66%
Cost Of Revenue $519.8M $435.3M
YoY Change 19.41% 68.13%
Gross Profit $224.0M $187.0M
YoY Change 19.79% 60.13%
Gross Profit Margin 30.12% 30.05%
Selling, General & Admin $23.10M $20.73M
YoY Change 11.44% -77.57%
% of Gross Profit 10.31% 11.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.10M $11.50M
YoY Change 13.91% 51.32%
% of Gross Profit 5.85% 6.15%
Operating Expenses $23.10M $20.73M
YoY Change 11.44% -77.59%
Operating Profit $55.57M $40.08M
YoY Change 38.66% 64.93%
Interest Expense -$6.500M -$11.40M
YoY Change -42.98% 60.56%
% of Operating Profit -11.7% -28.44%
Other Income/Expense, Net $100.0K $111.0K
YoY Change -9.91%
Pretax Income $49.15M $20.62M
YoY Change 138.34% 19.9%
Income Tax $19.00M $8.155M
% Of Pretax Income 38.66% 39.54%
Net Earnings $30.15M $12.47M
YoY Change 141.83% 31.24%
Net Earnings / Revenue 4.05% 2.0%
Basic Earnings Per Share $0.20 $0.10
Diluted Earnings Per Share $0.20 $0.10
COMMON SHARES
Basic Shares Outstanding 149.7M shares 126.0M shares
Diluted Shares Outstanding 154.0M shares 129.7M shares

Balance Sheet

Concept 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $184.3M $65.60M
YoY Change 180.95%
Cash & Equivalents $184.3M $65.63M
Short-Term Investments
Other Short-Term Assets $10.50M $17.70M
YoY Change -40.68%
Inventory $134.7M $109.1M
Prepaid Expenses
Receivables $11.30M $9.974M
Other Receivables $0.00 $0.00
Total Short-Term Assets $340.8M $202.4M
YoY Change 68.38%
LONG-TERM ASSETS
Property, Plant & Equipment $399.3M $347.1M
YoY Change 15.06%
Goodwill $368.1M $368.1M
YoY Change 0.0%
Intangibles $194.8M $196.1M
YoY Change -0.66%
Long-Term Investments
YoY Change
Other Assets $13.58M $11.09M
YoY Change 22.46%
Total Long-Term Assets $990.2M $941.4M
YoY Change 5.18%
TOTAL ASSETS
Total Short-Term Assets $340.8M $202.4M
Total Long-Term Assets $990.2M $941.4M
Total Assets $1.331B $1.144B
YoY Change 16.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $159.3M $114.9M
YoY Change 38.63%
Accrued Expenses $56.70M $41.60M
YoY Change 36.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.837M $2.749M
YoY Change 112.33%
Total Short-Term Liabilities $226.9M $162.6M
YoY Change 39.53%
LONG-TERM LIABILITIES
Long-Term Debt $302.5M $680.6M
YoY Change -55.56%
Other Long-Term Liabilities $70.75M $56.56M
YoY Change 25.1%
Total Long-Term Liabilities $373.2M $737.2M
YoY Change -49.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $226.9M $162.6M
Total Long-Term Liabilities $373.2M $737.2M
Total Liabilities $719.3M $1.015B
YoY Change -29.16%
SHAREHOLDERS EQUITY
Retained Earnings $98.38M $13.76M
YoY Change 615.19%
Common Stock $149.0K $126.0K
YoY Change 18.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $611.7M $128.4M
YoY Change
Total Liabilities & Shareholders Equity $1.331B $1.144B
YoY Change 16.37%

Cashflow Statement

Concept 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income $30.15M $12.47M
YoY Change 141.83% 31.24%
Depreciation, Depletion And Amortization $13.10M $11.50M
YoY Change 13.91% 51.32%
Cash From Operating Activities $61.60M $33.10M
YoY Change 86.1% -11.5%
INVESTING ACTIVITIES
Capital Expenditures -$39.60M -$24.30M
YoY Change 62.96% 115.04%
Acquisitions
YoY Change
Other Investing Activities $0.00 $100.0K
YoY Change -100.0%
Cash From Investing Activities -$39.50M -$24.20M
YoY Change 63.22% 114.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.10M -44.00M
YoY Change -129.77% -4500.0%
NET CHANGE
Cash From Operating Activities 61.60M 33.10M
Cash From Investing Activities -39.50M -24.20M
Cash From Financing Activities 13.10M -44.00M
Net Change In Cash 35.20M -35.10M
YoY Change -200.28% -229.52%
FREE CASH FLOW
Cash From Operating Activities $61.60M $33.10M
Capital Expenditures -$39.60M -$24.30M
Free Cash Flow $101.2M $57.40M
YoY Change 76.31% 17.86%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2013Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
18.00
CY2013Q3 sfm Initial Public Offering Shares
InitialPublicOfferingShares
21275000 shares
CY2014Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
149856857 shares
CY2013Q2 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
700000
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65628000
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
149743668 shares
CY2014Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
149743668 shares
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2014Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2000000 shares
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2014Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9000000 shares
CY2014Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
7635000
CY2014Q2 us-gaap Restructuring Reserve
RestructuringReserve
4134000
CY2014Q2 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2014Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
33552000
CY2014Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
302495000
CY2014Q2 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
5097000
CY2014Q2 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
700000
CY2014Q2 us-gaap Long Term Debt
LongTermDebt
308332000
CY2014Q2 us-gaap Liabilities Current
LiabilitiesCurrent
226899000
CY2014Q2 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
119130000
CY2014Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
7058000
CY2014Q2 us-gaap Common Stock Value
CommonStockValue
149000
CY2014Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2014Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
159267000
CY2014Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
98381000
CY2014Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
5837000
CY2014Q2 us-gaap Stockholders Equity
StockholdersEquity
611650000
CY2014Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
70754000
CY2014Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1330928000
CY2014Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
513120000
CY2014Q2 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
690000
CY2014Q2 us-gaap Liabilities
Liabilities
719278000
CY2014Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
23146000
CY2014Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
7763000
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
184273000
CY2014Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5300000
CY2014Q2 us-gaap Goodwill
Goodwill
368078000
CY2014Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
399328000
CY2014Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
11283000
CY2014Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2523000
CY2014Q2 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
14349000
CY2014Q2 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
4800000
CY2014Q2 us-gaap Assets
Assets
1330928000
CY2014Q2 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
8038000
CY2014Q2 us-gaap Inventory Net
InventoryNet
134655000
CY2014Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
194821000
CY2014Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
13580000
CY2014Q2 us-gaap Assets Current
AssetsCurrent
340772000
CY2014Q2 sfm Debt Instrument Discount Current
DebtInstrumentDiscountCurrent
1200000
CY2014Q2 sfm Debt Instrument Discount Non Current
DebtInstrumentDiscountNonCurrent
5300000
CY2012Q4 us-gaap Restructuring Reserve
RestructuringReserve
5243000
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
386755000
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67211000
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
147616560 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
147616560 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2700000 shares
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10900000 shares
CY2013Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
6634000
CY2013Q4 us-gaap Restructuring Reserve
RestructuringReserve
4713000
CY2013Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
175621000
CY2013Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
116177000
CY2013Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
8393000
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
147000
CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
111159000
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
34497000
CY2013Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
5822000
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
513771000
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
61417000
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
32958000
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
305418000
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1172404000
CY2013Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
479127000
CY2013Q4 us-gaap Other Employee Related Liabilities Current
OtherEmployeeRelatedLiabilitiesCurrent
356000
CY2013Q4 us-gaap Liabilities
Liabilities
658633000
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
22287000
CY2013Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
3395000
CY2013Q4 us-gaap Long Term Debt
LongTermDebt
311240000
CY2013Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
6904000
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
77652000
CY2013Q4 us-gaap Goodwill
Goodwill
368078000
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
348830000
CY2013Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
9524000
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8049000
CY2013Q4 us-gaap Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
15267000
CY2013Q4 us-gaap Assets
Assets
1172404000
CY2013Q4 us-gaap Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
18146000
CY2013Q4 us-gaap Inventory Net
InventoryNet
118256000
CY2013Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
195467000
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
13135000
CY2013Q4 us-gaap Assets Current
AssetsCurrent
231627000
CY2013Q4 sfm Debt Instrument Discount Current
DebtInstrumentDiscountCurrent
1200000
CY2013Q4 sfm Debt Instrument Discount Non Current
DebtInstrumentDiscountNonCurrent
5800000
CY2013Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
20477215 shares
CY2013Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
344100000
CY2013Q3 sfm Stock Issued During Period Shares Sold By Shareholders
StockIssuedDuringPeriodSharesSoldByShareholders
797785 shares
CY2013Q3 sfm Proceeds From Issuance Initial Public Offering Gross
ProceedsFromIssuanceInitialPublicOfferingGross
368600000
CY2013Q3 sfm Payment Of Underwriters Discount And Offering Costs
PaymentOfUnderwritersDiscountAndOfferingCosts
24500000
CY2013Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1200000
CY2013Q4 sfm Common Stock Issued In Secondary Public Offering Shares
CommonStockIssuedInSecondaryPublicOfferingShares
19550000 shares
CY2013Q2 us-gaap Dividends
Dividends
282000000
CY2013Q2 sfm Antidilution Payment Made To Optionholders
AntidilutionPaymentMadeToOptionholders
13900000
CY2014Q2 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1600000
CY2014Q2 sfm Common Stock Issued In Secondary Public Offering Shares
CommonStockIssuedInSecondaryPublicOfferingShares
17250000 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.396 pure
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3475000 shares
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
96549000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129438000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125963000 shares
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
405100000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
970000
us-gaap Gross Profit
GrossProfit
360947000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1196061000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1066000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-922000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-163000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
10761000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
50637000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-8000
us-gaap Operating Income Loss
OperatingIncomeLoss
80124000
us-gaap Repayments Of Subordinated Debt
RepaymentsOfSubordinatedDebt
35000000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
243000
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
113000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1192000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
244000
us-gaap Interest Paid Net
InterestPaidNet
24353000
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
-881000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1370000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
51676000
us-gaap Net Income Loss
NetIncomeLoss
30585000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
792000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-8175000
us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
19000
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1198000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
15216000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2665000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
14070000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
37452000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
4402000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
6503000
us-gaap Interest Expense Debt
InterestExpenseDebt
21556000
us-gaap Proceeds From Sale Of Intangible Assets
ProceedsFromSaleOfIntangibleAssets
172000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1583000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20052000
us-gaap Pre Opening Costs
PreOpeningCosts
4017000
us-gaap Accretion Expense Including Asset Retirement Obligations
AccretionExpenseIncludingAssetRetirementObligations
71000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
22639000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-46630000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1479000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-4939000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-51502000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
75000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
4000000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1599000
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1200000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
688127000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
28383000
us-gaap Retail Expenses
RetailExpenses
237646000
us-gaap Share Based Compensation
ShareBasedCompensation
2665000
us-gaap Business Exit Costs1
BusinessExitCosts1
1708000
us-gaap Cost Of Merchandise Sales Buying And Occupancy Costs
CostOfMerchandiseSalesBuyingAndOccupancyCosts
835114000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-2404000
sfm Excess Tax Benefit From Options Exercises And Antidilution Payment To Option Holders
ExcessTaxBenefitFromOptionsExercisesAndAntidilutionPaymentToOptionHolders
4400000
sfm Payments To Stockholders And Option Holders
PaymentsToStockholdersAndOptionHolders
295921000
sfm Payments On Financing Lease Obligations
PaymentsOnFinancingLeaseObligations
1398000
sfm Property And Equipment Acquired Through Capital Lease And Financing Obligations
PropertyAndEquipmentAcquiredThroughCapitalLeaseAndFinancingObligations
11069000
sfm Non Cash Loss On Extinguishment Of Debt
NonCashLossOnExtinguishmentOfDebt
7976000
sfm Excess Tax Benefit From Exercise Of Stock Awards
ExcessTaxBenefitFromExerciseOfStockAwards
900000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
dei Document Type
DocumentType
10-Q
dei Entity Registrant Name
EntityRegistrantName
SPROUTS FARMERS MARKET, INC.
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5524000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
636000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
16399000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
104451000
dei Trading Symbol
TradingSymbol
SFM
us-gaap Related Party Transaction Terms And Manner Of Settlement
RelatedPartyTransactionTermsAndMannerOfSettlement
The Services Agreement provides for successive one-year terms unless either party provides six months' termination notice.
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.388 pure
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y1M6D
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4950000 shares
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
137889000
dei Document Period End Date
DocumentPeriodEndDate
2014-06-29
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
us-gaap Related Party Transaction Date
RelatedPartyTransactionDate
2014-09-01
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-28
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
153670000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-994000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
148720000 shares
us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
-397000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
3500000
us-gaap Gross Profit
GrossProfit
447907000
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1466416000
dei Entity Central Index Key
EntityCentralIndexKey
0001575515
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4786000
us-gaap Payments For Restructuring
PaymentsForRestructuring
870000
us-gaap Operating Income Loss
OperatingIncomeLoss
117242000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
244000
us-gaap Income Taxes Paid
IncomeTaxesPaid
531000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
196000
us-gaap Interest Paid Net
InterestPaidNet
12183000
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
-577000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
57793000
us-gaap Net Income Loss
NetIncomeLoss
63884000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1860000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2995000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
21969000
us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
26214000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2995000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
11025000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
45579000
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
26214000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
9958000
us-gaap Interest Expense Debt
InterestExpenseDebt
12987000
us-gaap Restructuring Charges
RestructuringCharges
688000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
106621000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40567000
us-gaap Pre Opening Costs
PreOpeningCosts
3367000
us-gaap Accretion Expense Including Asset Retirement Obligations
AccretionExpenseIncludingAssetRetirementObligations
83000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
26071000
us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions
1600000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
26410000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
115000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
785000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
594000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-57678000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4786000
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
3800000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
1797000
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
1000000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
34012000
us-gaap Retail Expenses
RetailExpenses
281386000
us-gaap Share Based Compensation
ShareBasedCompensation
2995000
us-gaap Business Exit Costs1
BusinessExitCosts1
333000
us-gaap Cost Of Merchandise Sales Buying And Occupancy Costs
CostOfMerchandiseSalesBuyingAndOccupancyCosts
1018509000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
859000
sfm Payments On Financing Lease Obligations
PaymentsOnFinancingLeaseObligations
1423000
sfm Property And Equipment Acquired Through Capital Lease And Financing Obligations
PropertyAndEquipmentAcquiredThroughCapitalLeaseAndFinancingObligations
5746000
sfm Excess Tax Benefit From Exercise Of Stock Awards
ExcessTaxBenefitFromExerciseOfStockAwards
26200000
sfm Number Of Stockholders
NumberOfStockholders
2 Stockholders
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
344324000
CY2013 us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
835000
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3821000
CY2013 us-gaap Payments For Restructuring
PaymentsForRestructuring
1728000
CY2013 us-gaap Net Income Loss
NetIncomeLoss
51326000
CY2013 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5780000
CY2013 us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
13424000
CY2013 us-gaap Dividends
Dividends
282029000
CY2013 us-gaap Restructuring Charges
RestructuringCharges
363000
CY2013 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
113000
CY2013 sfm Tax Benefit Of Antidilution Payment Made To Optionholders
TaxBenefitOfAntidilutionPaymentMadeToOptionholders
4402000
CY2013 sfm Antidilution Payment Made To Optionholders
AntidilutionPaymentMadeToOptionholders
13892000
CY2013 sfm Adjustments To Additional Paid In Capital Reversal Of Tax Benefit On Forfeited Stock Options
AdjustmentsToAdditionalPaidInCapitalReversalOfTaxBenefitOnForfeitedStockOptions
27000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
CY2013Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.395 pure
CY2013Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3758000 shares
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129716000 shares
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125958000 shares
CY2013Q2 us-gaap Gross Profit
GrossProfit
187027000
CY2013Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
622367000
CY2013Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
646000
CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
20623000
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
40078000
CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
111000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
12468000
CY2013Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-8175000
CY2013Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1616000
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20728000
CY2013Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
11391000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8155000
CY2013Q2 us-gaap Pre Opening Costs
PreOpeningCosts
2303000
CY2013Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
2000000
CY2013Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
970000
CY2013Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
600000
CY2013Q2 us-gaap Retail Expenses
RetailExpenses
122985000
CY2013Q2 us-gaap Business Exit Costs1
BusinessExitCosts1
933000
CY2013Q2 us-gaap Cost Of Merchandise Sales Buying And Occupancy Costs
CostOfMerchandiseSalesBuyingAndOccupancyCosts
435340000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2014Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.387 pure
CY2014Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4358000 shares
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
154039000 shares
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19002000
CY2014Q2 us-gaap Pre Opening Costs
PreOpeningCosts
2420000
CY2014Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
1800000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
953000
CY2014Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
300000
CY2014Q2 us-gaap Retail Expenses
RetailExpenses
143155000
CY2014Q2 us-gaap Business Exit Costs1
BusinessExitCosts1
-200000
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149681000 shares
CY2014Q2 us-gaap Gross Profit
GrossProfit
224048000
CY2014Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
743810000
CY2014Q2 us-gaap Cost Of Merchandise Sales Buying And Occupancy Costs
CostOfMerchandiseSalesBuyingAndOccupancyCosts
519762000
CY2014Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
635000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
49153000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
55573000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
100000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
30151000
CY2014Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1588000
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
23100000
CY2014Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
6520000

Files In Submission

Name View Source Status
0001193125-14-300800-index-headers.html Edgar Link pending
0001193125-14-300800-index.html Edgar Link pending
0001193125-14-300800.txt Edgar Link pending
0001193125-14-300800-xbrl.zip Edgar Link pending
d747978d10q.htm Edgar Link pending
d747978dex101.htm Edgar Link pending
d747978dex102.htm Edgar Link pending
d747978dex311.htm Edgar Link pending
d747978dex312.htm Edgar Link pending
d747978dex321.htm Edgar Link pending
d747978dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
g747978g79j56.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
sfm-20140629.xml Edgar Link completed
sfm-20140629.xsd Edgar Link pending
sfm-20140629_cal.xml Edgar Link unprocessable
sfm-20140629_def.xml Edgar Link unprocessable
sfm-20140629_lab.xml Edgar Link unprocessable
sfm-20140629_pre.xml Edgar Link unprocessable
Show.js Edgar Link pending