Blog: Healthy demand for Sprouts as speciality US grocer makes debut
Dean Best | 2 August 2013
Sprouts Farmers Market's debut on the US stock market demonstrated demand among investors for companies in the health and wellness and natural categories shows no sign of abating.
Shares in Sprouts, which has over 160 stores in eight US states, jumped to more than double their listing price in their first day of trading yesterday (1 August). The stock closed at US$40.11, up sharply from the IPO price of $18 a share.
Sprouts' shares have eased back a touch today, standing at $39.35 at 12:21 ET. However, the early success of the listing indicates the market's appetite for companies seeking to meet US demand of natural and organic food.
Fairway Group Holdings, the owner of New York-based Fairway Market, listed in April and its shares are 45% higher than on debut.
Whole Foods Market is the big beast in the category and, although its shares dipped this week amid concerns about slowing sales, its stock is up almost 20% so far this year.
Keep your eye on our pages next week for a look at the sector.
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