In second quarter earnings, both Sprouts Farmers Market and Amazon saw positive results, with online sales serving as a huge contributing factor—during the current COVID-19 pandemic.
According to Supermarket News, e-commerce sales increases and more effective promotions pushed Sprouts Farmers Market’s income up 91 percent from a year ago to $67 million, in the second quarter of 2020.
Net sales reached $1.6 billion, up 16 percent from Q2 of 2019, Sprouts reported on July 29. The company’s Q1 net sales also were $1.6 billion and a 16 percent increase from the same period a year ago.
Some additional highlights included:
• Adjusted net income was $69.5 million compared with $35.3 million in Q2 2019, a 96.8 percent increase.
• Comparable store sales rose 9.1 percent.
• Gross profit was $613 million, a 32 percent increase from Q2 2019.
Amazon, which owns more than 500 Whole Foods stores, increased grocery delivery capacity by over 160 percent and tripled grocery pickup locations during the second quarter, which ended June 30, 2020.
Further, the company reported overall net income increased to $5.2 billion in the second quarter, or $10.30 per diluted share, compared with net income of $2.6 billion, or $5.22 per diluted share, in second quarter 2019.
