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7/30/2024
Thank you for standing by. Welcome to the Sprite Farmers Market second quarter 2024 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to Suzanne Livingston. Please go ahead.
Thank you, and good afternoon, everyone. We are pleased you are joining Sprouts on our second quarter 2024 earnings call. Jack Sinclair, Chief Executive Officer and Curtis Valentine, Chief Financial Officer, are with me today. The earnings release announcing our second quarter 2024 results, the webcast of this call, and financial slides can be accessed through the 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 2024 and beyond. These statements involve several risks and uncertainties that could cause results to differ materially from those described in the forward-looking statement. 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 comparable GAAP figures. With that, let me hand it over to Jack.
Thanks, Susanna, and good afternoon, everyone. We've seen impressive growth in the second quarter. Our sales grew by 12% compared to the second quarter of 2023, including a 6.7% increase in comparable store sales, and our diluted earnings per share grew by more than 32% from last year's adjusted diluted earnings per share. These results are a direct outcome of consistently executing and evolving our long-term strategy over the past few years. Our health enthusiast target customers continue to respond positively to our differentiated product assortment and unique shopping experience. As consumer preferences shift towards healthier living, we anticipate there will be even more health enthusiasts in the future than there are today. bolstering our confidence in the long-term potential of Sprouts. As always, the key factor in all of this is our incredible team. Their teamwork and commitment to excellence are the driving forces propelling us forward. It is an exciting time as we continue to expand, with significant opportunities still to come. I'll follow up with more later, but for now, I'll hand it over to Curtis to review our financial performance in the second quarter and our 2024 outlook. Curtis?
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