Grocery Outlet Holding Corp. Releases Second Annual Impact Report

Rhea-AI Summary

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.

Positive

• Estimated $2.8 billion in customer savings passed on in 2023
• Independence from Hunger® Campaign raised over $3.9 million
• Supported 447 Independent Operators and created 44 new entrepreneurial opportunities
• 98% of stores use timed lighting and heating systems for energy efficiency
• 100% of stores use an Energy Management System

Negative

• None.

Touching Lives for The Better By Providing Access to Affordable Food, Giving Back to Local Communities, and Improving Operational Efficiencies

EMERYVILLE, Calif., Aug. 14, 2024 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ: GO) (“Grocery Outlet” or the “Company”), a high-growth, extreme value retailer of quality, name-brand consumables and fresh products, today announced the publication of its second annual Impact Report covering fiscal year 2023.

“Grocery Outlet’s mission of Touching Lives for the Better has been at the foundation of our business throughout our 78-year history. We believe that our future success is intertwined with the well-being of our stakeholders and we are proud to highlight our progress and the positive environmental and social impacts we’ve accomplished in our second annual report,” said RJ Sheedy, President, CEO and member of the Board of Directors of Grocery Outlet.

Some of the key impact areas highlighted in the Report are:

• Saving Customers Money: Grocery Outlet passed onto its customers an estimated $2.8 billion in savings in 2023. The company’s discounts and bargains save customers money – an estimated 40% over conventional grocers on average and 40-70% on WOW! items – allowing them to save for life’s other expenses.
• Providing Quality Products at Low Prices: Grocery Outlet increases food access in its communities by providing customers with affordable, quality food from trusted, name-brand suppliers.
• Giving Back to Communities: Grocery Outlet partners with its Independent Operators to give back to its communities through initiatives like educational programs, donations to local food banks, and the Company’s annual Independence from Hunger® Campaign, which raised more than $3.9 million in 2023.
• Providing Opportunities to Independent Operators: As of the end of 2023, Grocery Outlet supported 447 Independent Operators network-wide and created 44 entrepreneurial opportunities for new operators in new and existing stores in 2023.
• Providing Opportunities for Employees: Grocery Outlet prioritizes its values and culture, as well as its equity, diversity and inclusion initiatives, which help create opportunities for employees to develop and achieve their goals.
• Reducing Food Waste: Grocery Outlet’s opportunistic sourcing model naturally supports food waste reduction by focusing on excess inventory and increasing the likelihood that surplus food will be sold to consumers rather than discarded.
• Improving Operational Efficiency: Grocery Outlet strives to reduce its environmental impact on energy use, food waste and carbon emissions by improving stores’ operation efficiency. More than 98% of stores use timed lighting and heating systems to lower energy consumption, and 100% of stores use an Energy Management System. In 2023, Grocery Outlet also discontinued printed advertisement circulars.
  

To learn more about Grocery Outlet’s Environmental, Social and Governance activities, the 2023 Impact Report is available for download at https://www.groceryoutlet.com/impact-report.

About Grocery Outlet
Based in Emeryville, California, Grocery Outlet is a high-growth, extreme value retailer of quality, name-brand consumables and fresh products sold primarily through a network of independently operated stores. Grocery Outlet and its subsidiaries have more than 520 stores in California, Washington, Oregon, Pennsylvania, Tennessee, Idaho, Nevada, Maryland, North Carolina, New Jersey, Georgia, Ohio, Alabama, Delaware, Kentucky and Virginia.

INVESTOR RELATIONS CONTACT:
Christine Chen
(510) 877-3192
cchen@cfgo.com

MEDIA CONTACT:
Alejandro Alvarez Correa
(510) 346-5532
aalvarezcorrea@cfgo.com

FAQ

What was Grocery Outlet's (GO) estimated customer savings in 2023?

Grocery Outlet (GO) passed on an estimated $2.8 billion in savings to its customers in 2023.

How much did Grocery Outlet's (GO) Independence from Hunger® Campaign raise in 2023?

Grocery Outlet's (GO) Independence from Hunger® Campaign raised more than $3.9 million in 2023.

How many Independent Operators did Grocery Outlet (GO) support in 2023?

As of the end of 2023, Grocery Outlet (GO) supported 447 Independent Operators network-wide.

What percentage of Grocery Outlet (GO) stores use timed lighting and heating systems?

More than 98% of Grocery Outlet (GO) stores use timed lighting and heating systems to lower energy consumption.