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Sprouts CEO says Fortune 500 debut doesn't take focus away from customers

Jack Sinclair Sprouts CEO.jpg
Posted at 9:13 AM, Jun 04, 2021
and last updated 2021-06-04 12:13:02-04

PHOENIX — Sprouts Farmers Market Inc. (Nasdaq: SFM), the Phoenix-based specialty grocer, made the Fortune 500 list this week for the first time in the company’s history.

Sprouts moved up on the list from No. 502 last year to No. 437 in 2021. The move comes after Sprouts had a record-setting 2020 with revenue growing 14.8% year over year and earnings increased 92.1% from 2019 to 2020.

Sprouts’ CEO Jack Sinclair told the Business Journal he was excited and honored to make the list, but wasn’t sure if it would actually benefit his company, when it comes to business.

“Ultimately what helps business is doing a good job for the customer. Customers don’t pay too much attention to whether you are in the Fortune 500 or the Fortune 1,” Sinclair said. “It is the recognition for the team working here. It does, in some extent, help with recruitment.”

Sinclair, who has been leading Sprouts since the summer of 2019, said the recognition from Fortune not only highlights the work of his employees, especially during 2020 and the Covid-19 pandemic, but also the work of those who founded the company and got it going.

Read the full story at Phoenix Business Journal.