Sprouts Farmers Market, Inc.

Hello, and welcome to the Sprouts Farmers Market first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will 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 has been raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. It is now my pleasure to introduce Vice President, Investor Relations and Treasury, Susanna Livingston.

Thank you, and good afternoon, everyone. We are pleased you are joining Sprouts on our first quarter 2025 earnings call. Jack Sinclair, Chief Executive Officer, Curtis Valentine, Chief Financial Officer, and Nick Conant, President and Chief Operating Officer, are with me today. The earnings release announcing our first quarter 2025 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 2025 and beyond. These statements involve several 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 filing and the commentary on forward-looking statements at the end of our earnings release. Our remarks today include references to non-GAAP financial measures. Please see the tables in our earnings release to reconcile our non-GAAP financial measures to the comparable GAAP figures. With that, let me hand it over to Jack.

Thanks, Susannah, and good afternoon, everyone. We're delighted with our strong first quarter results, marking a positive start to the year. Our sales increased 19% supported by comparable store sales of 11.7% and robust new store performance. Our diluted earnings per share reached $1.81, reflecting a 62% increase compared to the same period last year. These results highlight the effectiveness of our differentiated strategy and the excellent execution by our teams across the business. In the past five years, more consumers have embraced a movement towards health and wellness, leading to a significant growth in our target market opportunity, now estimated at approximately $290 billion of the $1.6 trillion spent on food at home. Our strategic commitment to our health enthusiast target customer is clearly resonating driving both traffic and sales. Our speciality attribute-driven products are performing well, and our knowledgeable team members are ready to assist customers in making informed choices to achieve their health goals. Customer engagement remains central to our strategy, which is why we're excited to launch our new loyalty program this year. This initiative, combined with our continued store growth plans, will improve access to fresh, healthy products for our customers across the country. In the first quarter, we made a significant move to begin self-distributing fresh meat and seafood through our distribution centers. This step allows greater control over our products, enhancing freshness and optimizing the capacity we've built in our supply chain the past few years. We're just beginning to unlock our potential, and I look forward to sharing more about our journey in a few moments. For now, I'll hand it to Curtis to review our first quarter financial results, as well as our updated 2025 outlook. Curtis?