Grocery Outlet(US:GO) Prnewswireยท2025-03-24 09:45Core Viewpoint - Grocery Outlet Holding Corp. announced disappointing financial results for Q1 of fiscal 2024 and significantly lowered its guidance for Q2 and the full fiscal year 2024, leading to a sharp decline in its stock price [1]. Financial Performance - The company reported financial results that were significantly below expectations for Q1 of fiscal 2024 [1]. - On May 7, 2024, Grocery Outlet reduced its guidance for Q2 and the full fiscal year 2024 due to unforeseen systems transition costs and residual expenses from its commission support program [1]. - Following the announcement, the stock price dropped to $20.88 per share on May 8, 2024, marking a decline of approximately 19.38% in one day [1]. 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][2]. - The deadline for shareholders to register for the class action is March 31, 2025, and there is no cost or obligation to participate [2]. 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].