Sprouts Farmers Market 2013 Annual Report Download - page 92

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Table of Contents
SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
The accompanying notes are an integral part of these consolidated financial statements.
87
Year Ended
December 29,
2013
December 30,
2012
January 1,
2012
Net sales
$
2,437,911
$
1,794,823
$
1,105,879
Cost of sales, buying and occupancy
1,712,644
1,264,514
794,905
Gross profit
725,267
530,309
310,974
Direct store expenses
496,183
368,323
238,245
Selling, general and administrative expenses
81,795
86,364
58,528
Amortization of Henry’s trade names and capitalized software
—
—
32,202
Store pre-opening costs
5,734
2,782
1,338
Store closure and exit costs
2,051
2,155
6,382
Income (loss) from operations
139,504
70,685
(25,721
)
Interest expense
(37,203
)
(35,488
)
(19,813
)
Other income
487
562
358
Loss on extinguishment of debt
(18,721
)
(992
)
—
Income (loss) before income taxes
84,067
34,767
(45,176
)
Income tax (provision) benefit
(32,741
)
(15,267
)
17,731
Net income (loss)
$
51,326
$
19,500
$
(27,445
)
Net income (loss) per share:
Basic
$
0.38
$
0.16
$
(0.28
)
Diluted
$
0.37
$
0.16
$
(0.28
)
Weighted average shares outstanding:
Basic
134,622
119,427
96,954
Diluted
139,765
121,781
96,954