Kelly Bania
BMO Capital Markets Equity Research

All right. We're going to go ahead and get started. My name is Kelly Bania. I'm the food retail analyst here at BMO. Really happy to have Sprouts Farmers Market join us this year. We have CEO, Jack Sinclair, and CFO, Curtis Valentine, up here. We also have Susannah Livingston and Nick Konat. Susannah runs the IR team, and Nick is the President and COO, over here. But we're just going to do a fireside chat for the next 40 minutes.

For those of you that don't know, Sprouts operates over 480 stores across the country. They generate almost $9 billion in sales, $1.4 billion of which is digital. The company is on pace to open 40 stores per year and has really become a trusted partner for innovative product launches in the natural and organic space.

Kelly Bania
BMO Capital Markets Equity Research

So where I wanted to start was just on the loyalty program. That's been a big initiative over the last year, kind of rolled out, I think, really in earnest in late Q4. Just wondering if you can just start with what are some of the key insights that you've learned so far? It's maybe early days, but are there any surprises or key learnings that you're getting from this as you get to know your customer better?

Curtis Valentine
Chief Financial Officer

Sure. Yes. I think since launch in November, I think 3 things. On the first side, really good response from the customer. And credit to our