Grocery Outlet(GO) Prnewswire·2025-03-10 09:45Core Viewpoint - Grocery Outlet Holding Corp. has faced significant stock price decline following disappointing financial results and lowered guidance for fiscal year 2024, attributed to unforeseen costs related to system transitions and inventory management [1]. Group 1: Financial Performance - Grocery Outlet announced its first quarter financial results for fiscal 2024 on May 7, 2024, which were significantly below expectations [1]. - The company reduced its guidance for the second quarter and the full fiscal year 2024 due to unforeseen systems transition costs and residual expenses from its commission support program [1]. - Following the announcement, Grocery Outlet's stock price dropped to $20.88 per share on May 8, 2024, marking a decline of approximately 19.38% in one day [1]. Group 2: Legal Action - Shareholders who purchased shares during the class period from November 7, 2023, to May 7, 2024, are encouraged to contact the Gross Law Firm regarding potential lead plaintiff appointment [1]. - The deadline for shareholders to register for the class action is March 31, 2025, and there is no cost or obligation to participate [2]. - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the lifecycle of the case [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting the rights of investors affected by deceit, fraud, and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].