Sprouts Farmers Market, Inc.

Good day and thank you for standing by. Welcome to the Sprouts fourth quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Susanna Livingston.

Thank you, and good morning, everyone. We are pleased you are taking the time to join Sprouts on our fourth quarter and full year 2022 earnings call. Jack Sinclair, Chief Executive Officer, and Chip Malloy, Chief Financial Officer, are with me today. The earnings release announcing our fourth quarter and full year 2022 results The webcast of this call and quarterly slides can be accessed through our investor relations section of our website at investors.sprouts.com. During this call, management may make certain forward-looking statements, including statements regarding our expectations for 2023 and beyond. The statements involve subtle risks and uncertainties that could cause results to differ materially from those described in the forward-looking statements. For more information, please refer to the risk factors discussed in our SEC filings and the commentary on forward-looking statements at the end of our earnings release. Our remarks today include references to non-GAAP measures. Please see the tables in our earnings release to reconcile our non-GAAP measures to the comparable GAAP figures. With that, let me hand it over to Jack.

Thanks, Susanna, and good morning, everyone. We ended 2022 on a strong note. with four-quarter results that included comparable store sales growth of 2.9%, total sales growth of 6%, and diluted earnings per share growth of 31%. For the full year, our diluted earnings per share growth was 14%, which is in line with our long-term strategy. Highlights for the year include opening 16 new stores, 60% in our new smaller prototype, growing sales of our Browse brand to over $1 billion, increasing sales of local produce by over 100%, creating 1,600 new jobs, launching approximately 8,400 new innovative products, and digitally connecting with 13% more customers. I want to take a moment and commend our 31,000 team members for driving these results in another very challenging year across the consumer landscape. Their continued dedication and commitment to making sprouts a place for discovering healthy eating continues to make me proud. In a few moments, I'll follow up with more on our journey in 2023. For now, let me hand it to Chip to review our financial performance in the fourth quarter, the full year, and our 2023 outlook.