We remain on track to open approximately 20 new stores this year. In true Sprouts Farm, our team members have adapted to a new way of operating and remain everyday heroes, as they provide our communities and customers healthy food for their families. About Sprouts Farmers Market Sprouts is the place where goodness grows. Hi. And then secondarily, the other piece is with us having balanced our business to have those delivery and pickup. A smaller, less complex box with our new format will also contribute to better labor standards, helping to offset future increases in labor costs. A portion of the promotional dollars left are being reinvested back into a competitive everyday price. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator And then after that, excess cash that's out there will continue to come back and reevaluate where we feel like we are with the revolver versus some other return on capital options, but for now, I'd actually just reemphasize that we are focused on investing in the business. Get daily stock ideas top-performing Wall Street analysts. So on inflation, what type of benefit did you get from food inflation in the quarter? Ken, let me separate out the two different pieces about what our priorities are over the long-term versus what we just did as we finished the quarter here. Our next question comes from Robbie Ohmes with Bank of America. And I think the key probably is the whole produce change in the way they approach to produce has been. PHOENIX, April 08, 2020 (GLOBE NEWSWIRE) -- Sprouts Farmers Market, Inc. (Nasdaq: SFM) today announced it will issue financial results for the first quarter ended March 29, 2020 after the market closes on Tuesday, May 5, 2020. Our roll up of pickup service to all our stores was successfully implemented by early May, giving our customers another option for shopping with Sprouts. And then my one follow up question. Some of the consumer trends we experienced in the first quarter related to the pandemic remained in the second quarter.
The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.40 by $0.17. Shares of SFM stock opened at $21.32 on Wednesday. I long for the day when this pandemic is over, but for now we are steadfast in doing what we must to keep our team members and customers safe. And when you look at the business, it was -- I'm seeing a very significant margin investment to get very little comp sales and there a negative traffic and decline in profitability and our business is so depend -- and right -- and one of our great heritage is our produce business and the DNA of produce in our organization is second to none. Der Kurs... FRANKFURT (dpa-AFX) - Der Dax hat zum Start in den Monat November Boden gut gemacht. On average, analysts expect Sprouts Farmers Market to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year. So I think what happened in the -- when COVID came along was that -- it didn't just apply to our 2019 stores. We would create a situation where the promotionally conscious customers who're coming in for very deep cut promotions only on the occasions when we had the deep cut promotions we would lose some of them and that we would gain the new customer base that we were talking about which is, again, we've talked about, this is a fairly significant $200 billion market and we just need a small further that to make this thing grow dramatically and that would have been coming through today in this conversation whether we had COVID -- if we haven't had COVID or we do have COVID if that helps.
06.11.2020 / 12:39 Our results are in large part due to our team members on the front line. So net-net, the story really for the quarter was about the COVID costs. Yeah. Thank you. So there's a number of things we've still got to prove in this strategy going forward. But we're being much more thoughtful about the items we're putting in it and being much more in taking advantage of a fairly volatile supply situation, because we're doing a digital and it's happening, you can make changes right up to the last day almost in terms of planning this. Yeah, Chris. Before I speak to the results, I want to express my thanks to our team members who have worked so hard during challenging circumstances. Offsetting some of the gross margin leverage, SG&A increased $106 million to $489 million or 29.8% of sales, a deleverage of 270 basis points compared to the same period last year. Our promotions are starting to become more around storytelling. Supply chain, we've announced the creation of the distribution center at Colorado and Florida and those are up and running. The stock currently has an average rating of "Hold" and a consensus price target of $25.93. Again, let me take you back to pre-COVID days. Identify stocks that meet your criteria using seven unique stock screeners. That's interesting. Outside of March and part of April, most of our grocers are back with the full distribution of print promotions and we continues to see the benefits from our strategy as evidenced from today's results. And so just very real term, we finished the quarter. And as I said earlier, I am comforted by the fact that our margins will be have some sustainable growth. True to its farm-stand heritage, Sprouts offers a unique grocery experience featuring an open layout with fresh produce at the heart of the store. Related: New strategies start to pay off for Sprouts Farmers Market During the third quarter, profit, income and earnings per share also increased significantly: Gross profit for the quarter increased 23% to $585 million, resulting in a gross profit margin of 37.1%, an increase of 400 basis points compared to the same period in 2019.
Learn about financial terms, types of investments, trading strategies and more. I don't think that there is -- you'd be able to say that there is a shortage of our investment that we have done this year, but much of our investment is going to be to come as we cycle out of 2020 into 2021 both in IT projects, in our new stores and putting our two new DCs in place. 1 WpHG mit dem Ziel der europaweiten Verbreitung So all in all, the cohort is performing well to-date. So couple of data points, other guys promoting are performing really well and the data point as we look at our real estate portfolio but it looks like it's very much in line with the target when we dig into the catchment areas. We continue to launch new items. Okay. I think we -- I'd suggest thinking about is, is there are puts and takes here in terms of tailwinds and headwinds, right. And we would have been articulating the new marketing campaign, articulating the new customer segmentation and chasing after this. Yeah. In addition, the supply chain, maybe just give an [Technical Issues] deliveries of goods that you're seeing and the progress you guys are making on the overall fresh supply chain plan that you outlined as part of the strategy. One is really understanding what an lasting promotion and what is an efficient promotion, sticking with those and pulling back in places where those don't make sense. Similarly, e-commerce trends remain elevated and we estimate that we will finish the month at approximately 11% of sales for July. Take care. We stopped the deep promotions in price that did not change the customer's decision or drive additional traffic and only resulted in deflated sales. So I guess, I'm still a little curious why maybe some more growth-oriented projects are not getting a little bit more of a higher priority from your cash flow at this time?
First of all, clearly it's difficult. I have competed with all that in all my career and all sorts of different guises and there are very clear competitor in many, many places. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Thank you. Let's conquer your financial goals together...faster. Chris Mandeville -- Jefferies LLC -- Analyst. Do Not Sell My Information. And the third type to that is what we're able to do to marry up the way we think about, in particular, our produce buying and then what we promote. Well, traffic is very difficult to read because of COVID. I just -- I wanted to ask really just one question. In this slideshow, we look at ten of the best high-dividend stocks that offer strong yields (above 3.5%), have consistent cashflow and a strong track record of dividend growth. You obviously don't have an opened up as many as usual, but just curious in terms of the performance that you are seeing and as we look forward if you can talk about the pipeline of locations to open and how that site selection process is going. DGAP-AFR: Fielmann AG: Vorabbekanntmachung über die Veröffentlichung von Quartalsberichten und Quartals-/Zwischenmitteilungen. Well, very much we've got very dramatic change to our marketing positioning going forward in terms of how we're going to engage our customer. How did that play out in the margin for you?
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