The stock market round-tripped big initial gains as AI plays such as Nvidia retreated. Carvana soared late on earnings.
Strong Performance Driven by Store Expansions and Robust Sales Growth
Grocery store chain Sprouts Farmers Market (NASDAQ:SFM) reported Q1 CY2024 results beating Wall Street analysts' expectations, with revenue up 8.7% year on year to $1.88 billion. It made a non-GAAP profit of $1.12 per share, improving from its profit of $0.98 per share in the same quarter last year.