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 Holding Corp. (NASDAQ: GO) announced significant organizational changes to bolster growth and support its independent operators. Effective January 1, 2022, Pamela Burke will transition from Chief Administrative Officer to Chief Stores Officer, focusing on operator relations. Heather Mayo, Chief Sales & Merchandising Officer - East, will depart the company in early March 2022. The restructuring aims to enhance local decision-making and facilitate independence among operators as the company celebrates its 75th anniversary.
Grocery Outlet Holding Corp. (NASDAQ: GO) will participate in Morgan Stanley's Virtual Global Consumer & Retail Conference on December 2, 2021, at 2:25 PM ET. The presentation will feature CEO Eric Lindberg, President RJ Sheedy, CFO Charles Bracher, and VP of Investor Relations Arvind Bhatia. It will be webcast live, with an archive available for 30 days post-presentation. Grocery Outlet operates over 410 stores across multiple states, focusing on high-growth, extreme value retailing of quality, name-brand consumables and fresh products.
Grocery Outlet Holding Corp. (NASDAQ: GO) reported Q3 fiscal 2021 results, revealing a 0.6% increase in net sales to $768.9 million, but a 4.3% decrease in comparable store sales. Net income fell by 57.7% to $17.1 million or $0.17 per share. Adjusted EBITDA decreased 6.2% to $51.4 million. The company opened 7 new stores, totaling 407 locations. A $100 million share repurchase program was approved, highlighting management's confidence in long-term growth despite a challenging environment.
Grocery Outlet Holding Corp. (NASDAQ: GO) will release its third-quarter fiscal 2021 financial results on November 9, 2021, after market close. A conference call is scheduled for the same day at 4:30 PM ET to discuss these results. Interested participants can dial (800) 705-4155 with conference ID #21998613 to join. The call will also be available via a live audio webcast. A replay of the conference call will be accessible shortly after the call and will remain available for approximately two weeks.
Grocery Outlet Holding Corp. (NASDAQ: GO) has launched a six-month pilot program partnering with Instacart, enabling same-day delivery of its products across 68 stores in California. The company, known for offering name-brand products at prices 40% to 70% below conventional retailers, will provide daily essentials and staples through Instacart's platform. This move aims to enhance customer convenience and expand Grocery Outlet's market reach, addressing the shift in shopping habits accelerated by the pandemic.
Grocery Outlet Holding Corp. (NASDAQ: GO) will participate in the Goldman Sachs 28th Annual Global Retailing Conference on September 9, 2021, at 12:50 PM ET. Key executives, including CEO Eric Lindberg and CFO Charles Bracher, will represent the company. The audio presentation will be available via live webcast and archived for 30 days post-event. Grocery Outlet operates over 400 stores across several states, providing a range of quality name-brand consumables and fresh products.
Grocery Outlet Holding Corp. (NASDAQ: GO) reported a decline in second quarter fiscal 2021 results, with net sales down 3.5% to $775.5 million and comparable store sales decreasing by 10.0%. Net income fell 33.0% to $19.6 million, equating to $0.20 per diluted share. Adjusted EBITDA decreased 15.7% to $50.8 million. For the 26 weeks, net sales dropped 2.3% to $1.53 billion. The company plans to open 36 to 38 new stores in fiscal 2021. Current comparable store sales for Q3 2021 are projected to be negative mid-single digits. Cash and equivalents totaled $126.6 million.
Grocery Outlet Bargain Market has announced that its eleventh annual Independence from Hunger® Food Drive collected over $2.8 million, equating to approximately 1.4 million meals for families in need. The campaign, running from June 23 to July 31, involved more than 400 stores across the U.S., partnering with local food agencies to address food insecurities. Since its inception in 2011, the initiative has raised over $14 million. All collected funds go directly to local food banks without any fees deducted.
Grocery Outlet Holding Corp. (NASDAQ: GO) will release its second quarter financial results for fiscal 2021 on August 10, 2021, after market close. A conference call to discuss these results will take place at 4:30 PM ET. Investors can join the call by dialing (877) 407-9208 with conference ID #13721982. A live audio webcast will also be available on their investor page. A recorded replay of the call will be accessible within two hours post-conclusion for about two weeks.
Grocery Outlet Holding Corp. (NASDAQ: GO) has opened its 400th 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.
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