Source: Supermarket News
Natural retailer Sprouts Farmers Market failed to communicate its pricing strategy when it rolled out its new marketing plan this year, CEO Jack Sinclair told investors Thursday afternoon.
“We have the right strategy, and we are excited about moving it forward, piece by piece: making great progress on our supply chain; differentiated merchandise; new format; and real estate selections,” Sinclair said after the company released its third-quarter earnings report. “However, our initial marketing messages fell short in a few areas. We fully expected to see a positive two-year stack in the back half of this year, and through the third quarter, we did not.