Sprouts Farmers Market Launches $600M Share Repurchase Program

Sprouts Farmers Market, Inc. (NASDAQ: SFM) has announced a new share repurchase program of $600 million, replacing the previous authorization with nearly $120 million remaining. The program, authorized on May 22, 2024, is set to expire on May 22, 2027.

This move reflects the company's confidence in its strategy and potential, as well as its strong cash flow generation. The share repurchase program allows for the discretionary purchase of common shares through various means, including open market purchases, privately negotiated transactions, or rule 10b5-1 trading plans.

The company's Chief Financial Officer, Curtis Valentine, emphasized the importance of balancing capital deployment to drive growth and long-term value for investors.

This announcement follows a period of solid financial performance for Sprouts Farmers Market, and the share repurchase program indicates a proactive approach to capital allocation. It will be interesting to see the impact of this authorization on the company's financial metrics in the coming quarters. Following these announcements, the company's shares moved 1.3%, and are now trading at a price of $80.22. If you want to know more, read the company's complete 8-K report here.

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