Real Estate
As of Aug 1, 2018, the company operated 305 stores in 17 states.
In fiscal 2017, the company opened 32 new stores. Year-to-date, the company opened 20 new stores as of Aug 1, 2018. The company intends to open approximately 30 new stores annually over the near term, with approximately 60-65% in existing markets.
All stores are leased, for an initial 10 to 15 year term with four renewal options of 5 years each.
New stores are generally between 28,000 and 30,000 square feet, overall average approximately 28,300 square feet, and are located in a variety of mid-sized and larger shopping centers, lifestyle centers and in certain cases, independent single-unit, stand-alone developments.
| TTM | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|
| Stores | 301 | 285 | 253 | 217 | 191 | 167 |
| Store growth | 9.9% | 12.6% | 16.6% | 13.6% | 14.4% | 12.8% |
| Total gross square feet (M) | 8,547 | 8,055 | 7,070 | 5,977 | 5,253 | 4,583 |
| Total gross square feet growth | 10.8% | 13.9% | 18.3% | 13.8% | 14.6% | 12.7% |
| Avg store gross sq ft | 28,400 | 28,300 | 27,900 | 27,500 | 27,500 | 27,400 |
| Avg store gross sq ft growth | 0.8% | 1.1% | 1.5% | 0.1% | 0.2% | -0.1% |
Notes:reflects acquisition of 37 Sunflower Farmers Market stores in 2012 and 56 Sprouts Arizona stores in 2011