Sprouts Farmers Market 2015 Annual Report Download - page 68

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60
SPROUTS FARMERS MARKET, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Year Ended
January 3,
2016
December 28,
2014
December 29,
2013
Net sales ....................................................................................... $3,593,031 $2,967,424 $2,437,911
Cost of sales, buying and occupancy............................................ 2,541,403 2,082,221 1,712,644
Gross profit............................................................................... 1,051,628 885,203 725,267
Direct store expenses.................................................................... 706,044 581,621 496,183
Selling, general and administrative expenses............................... 106,412 95,397 81,795
Store pre-opening costs ................................................................ 8,616 7,749 5,734
Store closure and exit costs .......................................................... 1,802 725 2,051
Income from operations............................................................ 228,754 199,711 139,504
Interest expense............................................................................ (17,723)(25,063)(37,203)
Other income................................................................................. 443 596 487
Loss on extinguishment of debt .................................................... (5,481)(1,138)(18,721)
Income before income taxes .................................................... 205,993 174,106 84,067
Income tax provision ..................................................................... (77,002)(66,414)(32,741)
Net income ............................................................................... $128,991 $107,692 $51,326
Net income per share:
Basic......................................................................................... $ 0.84 $ 0.72 $ 0.38
Diluted ...................................................................................... $ 0.83 $ 0.70 $ 0.37
Weighted average shares outstanding:
Basic......................................................................................... 153,099 149,751 134,622
Diluted ...................................................................................... 155,877 154,328 139,765
The accompanying notes are an integral part of these consolidated financial statements.