Shares of Grocery Outlet Holding Corp. (GO) witnessed a decline of 15.2% during the after-market trading session on May 7 following first-quarter 2024 results. While the top line beat the Zacks Consensus Estimate and increased year over year, the bottom line missed the same and fell sharply from the year-ago period. Management highlighted that additional systems conversion issues hurt the company’s profitability. Consequently, Grocery Outlet revised its full-year earnings forecast downward.Q1 InsightsGrocer ...

For the quarter ended March 2024, Grocery Outlet Holding Corp. (GO) reported revenue of $1.04 billion, up 7.4% over the same period last year. EPS came in at $0.09, compared to $0.27 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.02 billion, representing a surprise of +1.20%. The company delivered an EPS surprise of -50.00%, with the consensus EPS estimate being $0.18.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Grocery Outlet Holding Corp. (GO) came out with quarterly earnings of $0.09 per share, missing the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -50%. A quarter ago, it was expected that this supermarket company selling discount, overstocked and closeout products would post earnings of $0.16 per share when it actually produced earnings of $0.18, ...

Exhibit 99.1 Grocery Outlet Holding Corp. Announces First Quarter Fiscal 2024 Financial Results Q1 fiscal 2024 net sales increased 7.4% Q1 fiscal 2024 comparable store sales grew 3.9%, driven by a 7.0% increase in transactions Company updates key guidance for fiscal 2024 Emeryville, CA – May 7, 2024 – Grocery Outlet Holding Corp. (NASDAQ: GO) ("Grocery Outlet" or the "Company") today announced financial results for the first quarter of fiscal 2024 ended March 30, 2024. Highlights for First Quarter Fiscal 20 ...

As Grocery Outlet Holding Corp. (GO) gears up to unveil its first-quarter 2024 earnings results on May 7 after market close, investors are contemplating whether now is the opportune moment to buy into this grocery chain.Investors considering the addition of Grocery Outlet ahead of its earnings release may find compelling reasons to do so despite the projected decrease in earnings. According to the Zacks Consensus Estimate, there is an expected increase in the top line, indicating a 6.1% rise in revenues to ...

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Grocery Outlet Holding Corp.’s (GO) innovative approach, characterized by its opportunistic sourcing and Independent Operator model, not only sets it apart in the competitive retail landscape but also positions it for substantial growth and customer satisfaction. By delivering exceptional value through steep discounts, and focusing on strategic expansion and customer engagement, Grocery Outlet is well-placed to continue its trajectory of success, enhancing its footprint and reinforcing its unique place in t ...

Consumer staples have been having a steady year, with the S&P 500 Select Sector SPDR (XLP) rising 6.2% over a 12-month period that ended in February. Per Zacks data, the consumer staples sector has grown 4.6% in the first quarter of 2024 itself.With inflation under control and no interest rate hikes expected in the year, it seems likely that the sector will continue to gain. The primary reason behind this is the availability of more cash in hand for consumers to spend. When rate hikes end, purchasing power ...

Grocery Outlet Holding Corp. (GO) finalized the purchase of United Grocery Outlet ("UGO"), a leading extreme value grocery retailer in the Southeastern United States. This strategic move is part of GO's expansion strategy, broadening its geographic reach beyond its traditional base. The acquisition, initially announced a while ago, has now come to an end, signifying an important step forward for the company in its efforts to grow and capture new markets.United Grocery Outlet, under the umbrella of Gen Cap A ...

EMERYVILLE, Calif., April 02, 2024 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ:GO) ("Grocery Outlet" or the "Company") today announced the closing of the previously announced acquisition of United Grocery Outlet ("UGO"), an extreme value, discount grocery retailer operating throughout the Southeastern United States, from affiliates of Gen Cap America, Inc. and current and former UGO management. With 40 stores and a distribution center, the acquisition of UGO expands Grocery Outlet's presence in ...