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.
MacGregor Read Retires from Grocery Outlet
On September 1, 2022, S. MacGregor Read, Jr. retired from his position as Vice Chairman of Grocery Outlet's Board of Directors after nearly 30 years. Read has played a pivotal role in the company's growth, which includes significant increases in sales and store numbers. He began his career at Grocery Outlet as an intern in 1993, serving in various capacities over the years. Eric Lindberg, the current CEO, praised Read's contributions and expressed confidence in the company's future. Grocery Outlet operates over 420 stores across multiple states.
Grocery Outlet Holding Corp. (NASDAQ: GO) will participate in a fireside chat at the Goldman Sachs 29th Annual Global Retailing Conference on September 8, 2022, at 8:05 AM ET. The event will feature executives including CEO Eric Lindberg, President RJ Sheedy, CFO Charles Bracher, and VP of Investor Relations Arvind Bhatia. The presentation will be webcast live and later archived online. Grocery Outlet operates over 420 stores across several states, focusing on offering high-quality, name-brand consumables at extreme value.
Grocery Outlet (NASDAQ: GO) has partnered with DoorDash (NYSE: DASH) to offer same-day grocery delivery from over 398 locations nationwide. This service allows DoorDash customers to access Grocery Outlet's extensive selection of products at prices typically 40% to 70% lower than retail. The partnership aims to help consumers save time and money as they face rising prices. DashPass members can enjoy exclusive discounts on orders. The initiative reflects DoorDash's commitment to convenience and affordability in grocery shopping.
Grocery Outlet Holding Corp. (NASDAQ: GO) raised its fiscal year 2022 guidance after reporting a strong second quarter. Net sales surged by 15.7% to $897.7 million, with comparable store sales up 11.2%. Net income rose 2.3% to $20.1 million, or $0.20 per diluted share. Adjusted EBITDA increased 18.3% to $60.1 million. The company now expects net sales of $3.46 billion to $3.48 billion and comparable store sales growth of 8.0% to 8.5% for the fiscal year. Cash and cash equivalents stood at $84.3 million.
Grocery Outlet Holding Corp. (NASDAQ: GO) is set to release its financial results for Q2 of fiscal 2022 on August 9, 2022, after market close. Following the release, the company will host a conference call at 4:30 PM ET to discuss the results. Investors can participate by calling (877) 407-9208 approximately 10 minutes prior to the call using conference ID #13730478. A live audio webcast will also be available on the company's investor relations website. The call replay will be accessible within two hours post-event.
Uber Technologies (NYSE: UBER) and Grocery Outlet (NASDAQ GS: GO) have launched a pilot program for on-demand and scheduled grocery delivery across 72 stores in California, Oregon, and Washington. The initiative allows customers to order their favorite Grocery Outlet products through Uber and Uber Eats. To celebrate the launch, first-time Grocery Outlet customers receive $0 Delivery Fee for orders over $30, while Uber One members enjoy free delivery on orders over $15. This partnership aims to expand Grocery Outlet's reach and enhance Uber's grocery delivery service.
Grocery Outlet Holding Corp. (GO) reported a10.5% increase in net sales, totaling $831.4 million for Q1 FY2022, with comparable store sales rising 5.2%. However, net income fell by 38.7% to $11.6 million, or $0.12 per diluted share. The company revised its FY2022 outlook, raising net sales guidance to between $3.39 billion and $3.42 billion and adjusted earnings per share to $0.94 to $0.99. Cash and cash equivalents stood at $138 million, with total debt at $452 million.
Grocery Outlet Holding Corp. (NASDAQ: GO) will release its Q1 2022 financial results on May 10, 2022, after market close. A conference call to discuss these results will take place at 4:30 PM ET. Interested investors can join the call by dialing (877) 407-9208, using conference ID #13727894. The call will also be available via live audio webcast on the Grocery Outlet investor website. A taped replay of the conference will be accessible shortly after the call concludes.
Grocery Outlet Holding Corp. (NASDAQ: GO) reported Q4 and FY 2021 results, highlighting a 3.0% decline in net sales to $782.7 million for Q4, impacted by an extra week in the previous year. Net income plummeted 72.6% to $6.6 million, with adjusted EBITDA down 7.5% to $47.4 million. For FY 2021, net sales decreased 1.8% to $3.08 billion, with net income decreasing 41.6% to $62.3 million. The company expects FY 2022 net sales between $3.33 billion and $3.38 billion with a projected comparable store sales increase of 4.0% to 5.0%.
Grocery Outlet Holding Corp. (NASDAQ: GO) is set to release its financial results for Q4 and the full fiscal year 2021 on March 1, 2022, after market close. A conference call will be held at 4:30 PM ET to discuss these results. Investors can join the call by dialing (877) 407-9208 with conference ID #13726487, or via a live audio webcast. A replay of the call will be available shortly after it concludes, lasting for two weeks. Grocery Outlet operates over 410 stores in multiple states, focusing on extreme value retailing of quality consumables.
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