Sprouts Reports Impressive 2Q Results, but Long-Term Threats Persist; Shares Fairly Valued
No-moat Sprouts Farmers Market boasted solid second-quarter top-line results, up 15%, but intense competitive pressures and higher product costs weighed on profitability, as operating margins contracted 80 basis points to 5.4%. Digging deeper, the 1.4% uptick in comparable-store sales (5.5% on a two-year stack basis) was driven by a 0.4% increase in traffic and 1% higher prices, which suggests Sprouts still benefits from a differentiated farmers market-style shopping experience and its self-dist...Sprouts Farmers Market operates as a healthy grocery store. The company categorizes the varieties of products it sells as perishable and non-perishable. Perishable product categories include produce, meat, seafood, deli, bakery, floral and dairy and dairy alternatives. Non-perishable product categories include grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care. The company's stores include the following departments: packaged groceries, meat and seafood, deli, vitamins and supplements, dairy and dairy alternatives, bulk items, baked goods, frozen foods, natural health and body care, and beer and wine.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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