Phoenix-based specialty grocery chain Sprouts Farmers Market is still expecting to open a significant number of new stores in the next couple of years, but the Covid-19 pandemic has forced the company's growth program to evolve.
During the Stephens NASH Investment Conference on Nov. 18, Sprouts Chief Financial Officer Denise Paulonis said the company is on track to open a number of stores across the country in 2021 and beyond, but that the real estate process – working with developers – has slowed down because of the pandemic.
"Even though you see other store closures and potential available in real estate, it just evolves a little slower,” she said.
Paulonis has said Sprouts will open about 20 new stores in 2021, following the 22 that opened in 2020.
The Business Journal has reported on two new Sprouts stores that are already in development in the Valley that will open in the second half of 2021. But according to the latest company investor deck, Sprouts is targeting growth in California, Texas, Georgia, Florida, and in the Northeast in Pennsylvania, Maryland, New Jersey and Delaware.
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