Sprouts Farmers Market Inc's delayed stock offering was reportedly a rare occurrence, but observers expect the deal to come together next week. This was according to a report published by The Wall Street Journal.
Insiders including Apollo Global Management and Sprouts co-founder Shon Boney have filed a sale of 25.9 million total shares in the specialty grocer. The said stake is valued at USD975 million, the report said.
Sprouts delayed its Thursday stock plans after its peer, Fresh Market Inc, posted dismal quarterly results, according to sources familiar with the matter. The sources also said sellers are worried that the news might affect the grocery stocks at a larger scale, said the report.
On Friday afternoon, Sprouts' shares went down 1.9%. Fresh Market's shares went down 17%. Another peer, Fairway Group Holdings Corp, was down by 4.5%. On Friday morning, Sprouts stated that its comparable-store sales went up 14% seven weeks until November 17, The Wall Street Journal reported.
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