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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) 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.
Grocery Outlet Holding Corp. (NASDAQ: GO) reported its Q1 2021 results, revealing net sales decreased by 1.0% to $752.5 million. Comparable store sales fell 8.2% following a 17.4% increase last year. Net income surged 49.4% to $18.9 million, or $0.19 per diluted share. However, adjusted EBITDA declined 13.7% to $48.8 million and adjusted net income fell 19.6% to $23.1 million. The company opened 10 new stores and plans to open 36-38 stores in 2021. While management expresses long-term optimism, Q2 comparable store sales are projected to decline in low double digits.
Grocery Outlet Holding Corp. (NASDAQ: GO) will release its financial results for Q1 fiscal 2021 after market close on May 11, 2021. A conference call to discuss these results will be held at 4:30 PM ET. Interested participants can dial (877) 407-9208, using conference ID #13718911, or access a live audio webcast at the company's investor relations website. A replay of the call will be available shortly after its conclusion for two weeks.
Grocery Outlet operates over 375 stores across the western U.S., focusing on providing low-cost, name-brand consumer goods.
Grocery Outlet Holding Corp. (NASDAQ: GO) will participate in a virtual fireside chat at the UBS Global Consumer and Retail Virtual Conference on March 9, 2021, at 4:00 PM ET. Attending will be CEO Eric Lindberg, CFO Charles Bracher, and VP of Investor Relations Joseph Pelland. The presentation will be webcast live, accessible via Grocery Outlet's investor calendar page, with an archived version available for 30 days post-event. Grocery Outlet operates over 375 stores across several U.S. states, focusing on extreme value retailing of quality consumables and fresh products.
Grocery Outlet Holding Corp. (NASDAQ: GO) reported strong financial results for Q4 and FY 2020. Q4 net sales surged 23.1% to $806.8 million, including $53.3 million from an extra week. Comparable store sales rose 7.9%. Net income soared 146.8% to $24.3 million, or $0.24 per diluted share. For the full fiscal year, net sales increased 22.5% to $3.13 billion, with net income up 592.1% to $106.7 million. The company plans to open 36-38 stores in FY 2021 but expects comparable sales to decline in the first quarter due to prior COVID-19 demand spikes.
Grocery Outlet Holding Corp. (NASDAQ: GO) will announce its fourth quarter and full fiscal year 2020 financial results on March 2, 2021, post-market close. A conference call to discuss these results is scheduled for 4:30 PM ET, with a dial-in for participants. The company operates over 375 stores in the U.S. across various states, offering value to consumers through a network of independently operated stores.
Grocery Outlet Holding Corp. (NASDAQ: GO) announced the appointment of Gail Moody-Byrd and María Fernanda Mejía to its Board of Directors, expanding the board to 12 members as of January 18, 2021. Moody-Byrd brings over 35 years of experience in B2B technology marketing and retail consulting, while Mejía has a global career spanning 30 years in general management and operations. Both appointees align with Grocery Outlet's culture of diversity and are expected to contribute significantly to the company's long-term growth strategies.
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