Sprouts Farmers Market is taking over a never-opened Amazon Fresh grocery store in Pennsylvania, marking the first time Sprouts has directly benefited from Amazon stepping back from physical grocery. The site is a fully renovated, fitted grocery location that Amazon exited before opening to the public, and the transfer bypasses typical restrictive covenants that often limit successor grocery operators. This turnkey location allows Sprouts to accelerate its store footprint in a competitive region. The stock, traded as NasdaqGS:SFM, recently traded at $89.94, with gains of 9.5% over the past week and 12.2% over the past month, though it is down 44.6% over the past year.
Sprouts Farmers Market LLCSprouts takes over a turnkey location, accelerating its store footprint in a competitive region.
Amazon.com IncAmazon's exit from a physical grocery location allows a competitor to take over, indicating a retreat from physical grocery.