Grocery Outlet Continues National Expansion, Celebrating 400th Store Opening in Hailey, Idaho

Rhea-AI Summary

Grocery Outlet Holding Corp. (NASDAQ: GO) has opened its 400^th store in Hailey, Idaho, marking a significant milestone in its 75-year history. The new location, run by independent operator Shane Anderson, reflects the company's ongoing growth strategy of adding approximately 35 new stores annually. To celebrate, Grocery Outlet is offering 'diamond deals' of up to 75% off select items. Additionally, the company commemorates its public listing anniversary on June 20, 2019, and has raised over $11 million for local food banks through its Independence from Hunger campaign.

Positive

• Opening of the 400^th store signifies strong expansion efforts.
• Consistent annual growth rate of 10% with plans to add approximately 35 new stores each year.
• The company celebrates its 75^th anniversary with promotional 'diamond deals' up to 75% off.

Negative

• None.

Grocery Outlet Holding Corp. (NASDAQ: GO) (“Grocery Outlet” or the “Company”), the leading extreme-value retailer in the United States offering quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers, today announced the opening of its 400^th store and newest location in Hailey, Idaho.

Grocery Outlet celebrates the opening of its 400th store and newest location in Hailey, Idaho. (Photo: Business Wire)

Located at 615 N Main St. in Hailey, Idaho, just south of the Sun Valley ski resort and east of Boise, the newest Grocery Outlet location is run by independent operator (“IO”) Shane Anderson. Anderson is a Grocery Outlet veteran who previously worked alongside his daughter and son-in-law serving as a general manager in their Grocery Outlet location. The Hailey store continues Grocery Outlet’s annual new store growth of 10%, adding roughly 35 new stores each year.

“We are incredibly proud to celebrate the opening of our 400^th store, a momentous number 75 years in the making,” said Grocery Outlet’s CEO Eric Lindberg. “Since our founding, Grocery Outlet has built on the core value of ‘touching lives for the better,’ and today, we are proud to play a part in 400 communities across the U.S. When you shop at a Grocery Outlet store, you are shopping local and supporting entrepreneurs within your own community. I’d like to congratulate Shane Anderson, along with all of our IOs across the country, for providing a treasure hunt shopping experience for all of our bargain-minded customers.”

The announcement of the 400^th store comes as Grocery Outlet celebrates its 75^th anniversary. A diamond commemoration, across all of Grocery Outlet stores, customers can expect to see “diamond deals” of up to 75% off select items, as well as throwback bargain deals and highlights of some of the Company’s most unique bargain buys from throughout the years.

This year, Grocery Outlet also celebrates its second anniversary as a public company, after joining Nasdaq under the ticker symbol “GO” on June 20, 2019. Additionally, Grocery Outlet kicked off its 11^th annual Independence from Hunger food bank donation campaign on June 23, which has raised more than $11 million for local food banks across the country to date.

About Grocery Outlet:

For 75 years Grocery Outlet, an extreme-value grocery retailer based in Emeryville, California, has offered customers big savings on brand-name products. The Company has 400 locations throughout California, Idaho, Nevada, Oregon, Pennsylvania, and Washington. Stores are owned by Independent Operators based in the communities they serve.

Grocery Outlet offers a full range of products including fresh produce, meat, deli and dairy, along with a wide assortment of natural and organic choices. Grocery Outlet also carries a large selection of beer and wine, health and beauty care, as well as seasonal items. A third-generation, family-led company founded in 1946, Grocery Outlet provides local customers an exciting place to find WOW deals on name brands they trust.

For more information about Grocery Outlet, please visit www.GroceryOutlet.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210624005833/en/

FAQ

What is the significance of Grocery Outlet opening its 400th store?

The opening of the 400th store highlights Grocery Outlet's successful expansion strategy, adding approximately 35 new stores annually.

When did Grocery Outlet go public?

Grocery Outlet went public on June 20, 2019, and trades under the ticker symbol 'GO'.

What promotions is Grocery Outlet offering for its 75th anniversary?

In celebration of its 75th anniversary, Grocery Outlet is offering 'diamond deals' with discounts of up to 75% off select items.

How much has Grocery Outlet raised for local food banks?

Grocery Outlet has raised over $11 million for local food banks through its Independence from Hunger campaign.