SEC Comment Letter 0000000000-23-013881 to Sprouts Farmers Market, Inc. (SFM) (CIK 0001575515) (SFM)
Sprouts Farmers Market, Inc. (SFM) (CIK 0001575515)
Date: Dec. 20, 2023 · CIK: 0001575515 · Accession: 0000000000-23-013881
AI Filing Summary & Sentiment
File numbers found in text: 001-36029
Letter
United States securities and exchange commission logo December 20, 2023 Lawrence P. Molloy Chief Financial Officer Sprouts Farmers Market, Inc. 5455 East High Street, Suite 111 Phoenix, AZ 85054 Re:Sprouts Farmers Market, Inc. Form 10-K for Fiscal Year Ended January 1, 2023 Form 10-Q for Fiscal Quarter Ended October 1, 2023 File No. 001-36029 Dear Lawrence P. Molloy: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-Q for Fiscal Quarter Ended October 1, 2023 Management's Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources Operating Activities, page 33 1.You disclose the primary driver of the $102.2 million, or 33%, increase in the reported amount of operating cash flows for the fiscal 2023 period compared to the corresponding prior year period is nearly $77.0 million of an increase in working capital. Please provide a more fulsome analysis of material changes in overall operating cash flows and the material components comprising such. For example, discuss underlying factors associated with each of the working capital items cited that contributed to the improved working capital position in fiscal 2023 and how that increased the reported amount of operating cash. Refer to Item 303 of Regulation S-K, Release No. 33-10890 that emphasizes the need for analysis and the introductory paragraph of section IV.B and B.1 of Release No. 33-8350 for more specific guidance regarding in performing your analysis.
FirstName LastNameLawrence P. Molloy Comapany NameSprouts Farmers Market, Inc. December 20, 2023 Page 2 FirstName LastName Lawrence P. Molloy Sprouts Farmers Market, Inc. December 20, 2023 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Stephen Kim at 202-551-3291 or Doug Jones at 202-551-3309 with any questions. Sincerely, Division of Corporation Finance Office of Trade & Services
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United States securities and exchange commission logo
December 20, 2023
Lawrence P. Molloy
Chief Financial Officer
Sprouts Farmers Market, Inc.
5455 East High Street, Suite 111
Phoenix, AZ 85054
Re:Sprouts Farmers Market, Inc.
Form 10-K for Fiscal Year Ended January 1, 2023
Form 10-Q for Fiscal Quarter Ended October 1, 2023
File No. 001-36029
Dear Lawrence P. Molloy:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-Q for Fiscal Quarter Ended October 1, 2023
Management's Discussion and Analysis of Financial Condition and Results of Operations
Liquidity and Capital Resources
Operating Activities, page 33
1.You disclose the primary driver of the $102.2 million, or 33%, increase in the reported
amount of operating cash flows for the fiscal 2023 period compared to the corresponding
prior year period is nearly $77.0 million of an increase in working capital. Please provide
a more fulsome analysis of material changes in overall operating cash flows and the
material components comprising such. For example, discuss underlying factors associated
with each of the working capital items cited that contributed to the improved working
capital position in fiscal 2023 and how that increased the reported amount of operating
cash. Refer to Item 303 of Regulation S-K, Release No. 33-10890 that emphasizes the
need for analysis and the introductory paragraph of section IV.B and B.1 of Release No.
33-8350 for more specific guidance regarding in performing your analysis.
FirstName LastNameLawrence P. Molloy
Comapany NameSprouts Farmers Market, Inc.
December 20, 2023 Page 2
FirstName LastName
Lawrence P. Molloy
Sprouts Farmers Market, Inc.
December 20, 2023
Page 2
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
Please contact Stephen Kim at 202-551-3291 or Doug Jones at 202-551-3309 with any
questions.
Sincerely,
Division of Corporation Finance
Office of Trade & Services