Welcome to our dedicated page for Grocery Outlet Holding news (Ticker: GO), a resource for investors and traders seeking the latest updates and insights on Grocery Outlet Holding stock.
Grocery Outlet Holding Corp. (symbol: GO) is the leading extreme value retailer in the United States, catering to bargain-seeking customers since 1946. Headquartered in Emeryville, California, the company operates over 450 stores across California, Nevada, Oregon, Idaho, Washington, Pennsylvania, Maryland, and New Jersey. Grocery Outlet boasts a unique and flexible buying model that allows it to offer quality, name-brand products at prices typically 40% to 70% below those of conventional retailers.
Each Grocery Outlet store is run by entrepreneurial independent operators who bring a personalized touch to customer service and a localized product offering, creating a neighborhood feel for every store. The company’s broad appeal and commitment to affordability have made it a staple in both large cities and small towns alike. Grocery Outlet’s product selection includes frozen foods, refrigerated products, fresh produce, meat, general merchandise, health and beauty items, and more. All products are sold with a 100% satisfaction guarantee, ensuring customer trust and loyalty.
In recent news, Grocery Outlet continues its national expansion with the opening of new stores, including a second location in New Castle, Pennsylvania. This expansion is part of the company's long-term strategic growth plan, which aims to bring quality, affordable groceries to more communities. Additionally, Grocery Outlet announced its acquisition plans to expand its footprint into new adjacent markets in the Southeast, bolstering its growth prospects for fiscal 2024.
The company’s commitment to community is evident through its partnerships and employment opportunities. With revenues exceeding $1.5 billion annually and a workforce of approximately 1,000 people, Grocery Outlet not only helps consumers save money but also supports local economies.
For further information, Grocery Outlet Holding Corp. can be contacted via investor relations at Christine Chen (510) 877-3192 or media contact Layla Kasha (510) 379-2176.
Grocery Outlet reported Q3 fiscal 2024 financial results with net sales increasing 10.4% to $1.11 billion and comparable store sales growing 1.2%. The company faced challenges as net income decreased 10.9% to $24.2 million ($0.24 per share), while adjusted EBITDA increased 6.0% to $72.3 million. The company updated its fiscal 2024 guidance, lowering comparable store sales growth expectations to ~2.4% from ~3.5% and adjusted EBITDA to $237-242 million from $252-260 million. The Board approved a new $100 million share repurchase program. The company operates 529 stores across 16 states after opening 5 new locations in Q3.
Grocery Outlet Holding Corp. (NASDAQ: GO) announces immediate leadership change as Eric Lindberg returns as Interim President and CEO, replacing RJ Sheedy who has stepped down. The company has initiated a search for a permanent CEO. Preliminary Q3 2024 results show net sales of $1.1 billion, up 10.4% year-over-year, with comparable store sales increasing 1.2%. While expected to exceed full-year net sales guidance of $4.30-4.35 billion, the company anticipates reducing its full-year adjusted EBITDA guidance below the previously stated range of $252.0-260.0 million.
Grocery Outlet Holding Corp. (NASDAQ: GO) has announced that it will release its financial results for the third quarter of fiscal 2024 after the market close on Tuesday, November 5, 2024. The company will host a conference call at 4:30pm ET (1:30pm PT) to discuss the results.
Investors and analysts can join the call by dialing (877) 407-9208 approximately 10 minutes before the start. A live audio webcast will be available at https://investors.groceryoutlet.com. A taped replay will be accessible for about two weeks by dialing (844) 512-2921 with access code 13744383.
Grocery Outlet is a high-growth, extreme value retailer based in Emeryville, California, with over 520 stores across multiple states, including California, Delaware, Idaho, Maryland, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, Washington, Alabama, Georgia, Kentucky, North Carolina, Tennessee, and Virginia.
Grocery Outlet Holding Corp. (NASDAQ: GO) has launched its new private label program, GO Brands. The program features three brands: SimplyGO, GO Home & Haven, and GO Paw & Pamper. 100 new private label SKUs will be available in stores by the end of 2024 under SimplyGO and GO Home & Haven, with GO Paw & Pamper arriving in 2025.
SimplyGO offers affordable grocery and beverage basics, GO Home & Haven provides household essentials and personal care items, while GO Paw & Pamper will focus on pet food and accessories. The company aims to deliver high-quality products at unbeatable values, complementing their existing assortment of name-brand products and enhancing the treasure hunt shopping experience for customers.
Grocery Outlet Holding Corp. (NASDAQ: GO) has released its second annual Impact Report for fiscal year 2023, highlighting its commitment to Touching Lives for the Better. Key achievements include:
- Passed an estimated $2.8 billion in savings to customers, offering 40% average discounts compared to conventional grocers
- Raised over $3.9 million through the Independence from Hunger® Campaign
- Supported 447 Independent Operators and created 44 new entrepreneurial opportunities
- Focused on reducing food waste through opportunistic sourcing
- Improved operational efficiency with 98% of stores using timed lighting and heating systems
The report also details efforts in providing quality products, community involvement, employee development, and environmental initiatives.
Grocery Outlet Holding Corp. (NASDAQ: GO) reported Q2 fiscal 2024 financial results with net sales increasing 11.7% to $1.13 billion and comparable store sales growing 2.9%. The company opened 11 new stores and acquired 40 stores from United Grocery Outlet, ending the quarter with 524 stores in 16 states. However, gross margin decreased by 140 basis points to 30.9%, and net income decreased 42.8% to $14.0 million. The company updated its fiscal 2024 guidance, projecting comparable store sales increase of ~3.5% and adjusted earnings per share of $0.89 to $0.95. Despite challenges from technology platform implementation, management expressed satisfaction with Q2 performance and progress in systems transition.
Grocery Outlet Holding Corp. (NASDAQ: GO) has announced that it will release its second quarter fiscal 2024 financial results after the market close on Tuesday, August 6, 2024. The company will host a conference call at 4:30pm ET (1:30pm PT) to discuss the results. Investors and analysts can join the call by dialing (877) 407-9208 about 10 minutes before the start time.
A live audio webcast of the conference call will be available on the company's investor relations website. A taped replay will be accessible for approximately two weeks after the call. Grocery Outlet is a high-growth, extreme value retailer operating over 520 stores across multiple states, offering quality, name-brand consumables and fresh products through independently operated stores.
Grocery Outlet launched its 14th annual Independence from Hunger campaign on June 26, 2024, which will run until July 31. The campaign aims to combat food insecurity by collecting cash donations and pre-made bags of nonperishable foods at over 470 locations. Contributions can also be made online to support the Alameda County Community Food Bank. With rising inflation, food bank usage has increased to 41 million Americans, but donations have declined. Since its inception in 2011, the campaign has raised over $20 million. Customers can support the cause by donating $5 in-store or online to receive a $5 coupon, buying pre-made bags, or making monetary donations in-store. The initiative aligns with Grocery Outlet's long-standing commitment to community support and saving shoppers up to 40% on groceries.
Grocery Outlet Holding Corp. announced strong financial results for the first quarter of fiscal 2024, with a 7.4% increase in net sales and a 3.9% growth in comparable store sales. Despite disruptions from new technology platforms impacting gross margin, the company remains optimistic about long-term growth potential. The acquisition of United Grocery Outlet expands store reach into new states, reflecting positive outlook for future expansion.
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