Sprouts Farmers Market Inc (SFM) News & EventsSFMSprouts Farmers Market Inc

Sprouts Farmers Market Announces Leadership Transition

Sprouts Farmers Market announced a planned leadership transition, effective January 4, 2027, whereby Nick Konat, current president and chief operating officer, will take on the role of chief executive officer and join the board of directors. Jack Sinclair, who has served as CEO since 2019, will transition to the role of executive chairman. Sinclair said, "The Board and I have spent significant time and consideration developing our succession plan, and we believe that now is the right time to transition Sprouts to its next generation of leadership. Following the Board's comprehensive search process, we determined that Nick was the right leader for Sprouts. I've worked closely with Nick since he joined Sprouts in 2022 and seen firsthand his talent, drive and strong dedication to our people. He played a central role in shaping and executing our strategy, and I have tremendous confidence in his ability to lead the company to new heights. I want to thank all our team members for their deep commitment to Sprouts and their support for each other, our customers, our communities and our shareholders. I will be supporting Nick during the transition period, and it will be a privilege for me to continue serving Sprouts as its executive chairman." As part of this leadership transition, Joe Fortunato will serve as lead independent director beginning January 4, 2027, the first day of Sprouts' 2027 fiscal year.

Cohen & Steers Acquires Oracle Crossings Shopping Center

Cohen & Steers Income Opportunities REIT announced its acquisition of Oracle Crossings, a 266,000-square-foot, grocery-anchored open-air shopping center located in the Oro Valley submarket of Tucson, Arizona. The acquisition was completed through CNSREIT's programmatic joint venture with Phillips Edison & Company (PECO). Oracle Crossings is 96% leased and anchored by Sprouts Farmers Market (SFM) and HomeGoods. The center benefits from a highly visible location at the intersection of Oracle Road and Magee Road, which sees 66,000 vehicles per day. The center attracts more than 2.1M annual visitors.