The Phoenix-headquartered food retailer Sprouts Farmers Market (NASDAQ: SFM) is expanding its nationwide presence with plans to open up to 40 new stores in New England over the next few years.
The Boston Business Journal reports the first New England-based Sprouts store will be a 22,000-square-foot store planned for Weymouth, Massachusetts, in 2028. Additional stores are being planned for Massachusetts, Connecticut and Rhode Island. The company began moving further into the Northeast earlier this year with its first New York location.
“It’s quite exciting to be part of seeing all these stores getting built all over the place and going into new markets and seeing people kind of excited by the idea of something new,” said CEO Jack Sinclair in a first quarter analysts call.
Sinclair said the company approved approximately 150 new stores, with over 105 executed leases completed. The company will also focus on smaller stores, 23,000 square feet instead of the 32,000 square-foot stores it has been constructing.
The company is also planning a greater presence in the Midwest, with Chicago as the heart of that regional expansion.
“The next frontier is New England on one side and the Midwest on the other,” declared David McGlinchey, chief strategy officer at Sprouts.
0 Comments