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Sprouts Farmers Market (NASDAQ:SFM) fell sharply on Thursday after the corporate missed income and EPS estimates with its Q1 earnings report.
The grocery retailer operator warned on the influence of inflation and tender client demand. For Q2, Sprouts Farmers Market (SFM) guided for flat comparable gross sales and EPS of $0.49 to $0.53 vs. $0.56 consensus.
On Wall Road, Financial institution of America issued a double downgrade on SFM straight to an Underperform score from Purchase.
The agency pointed to SFM’s new outlook for double-digit price inflation and the view that accelerating value will increase should not prone to drive materials EPS upside at SFM given its extra slim assortment of upper price-point differentiated specialty gadgets than typical grocery shops.
Shares of Sprouts Farmers Market (SFM) fell 12.22% premarket to $27.52.
Dig into the Sprouts Farmers Market earnings name.
