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. reports news about its extreme value grocery retail business, including earnings releases, comparable sales commentary, store-footprint decisions and operating initiatives. The company sells quality, name-brand consumables and fresh products primarily through a network of independently operated stores across multiple U.S. states.
Recurring updates also cover board and executive changes, merchandising and digital-shopping initiatives such as shoppable content, community partnerships with hunger-relief organizations, and business optimization actions tied to store operations, operator agreements and lease activity.
Grocery Outlet (NASDAQ: GO) reported Q4 and fiscal 2024 results with mixed performance. Q4 net sales grew 10.9% to $1.10 billion, with comparable store sales up 2.9%. However, Q4 net income declined to $2.3 million ($0.02 per share) from $14.1 million ($0.14 per share) last year.
For fiscal 2024, net sales increased 10.1% to $4.37 billion, while net income decreased to $39.5 million ($0.40 per share) from $79.4 million ($0.79 per share) in 2023. The company expanded its footprint, adding 67 new stores including 40 from United Grocery Outlet acquisition, ending with 533 stores across 16 states.
The company announced a restructuring plan to improve profitability, including lease terminations for unopened stores, cancellation of warehouse projects, and workforce reduction. New CEO Jason Potter, a 30-year industry veteran from The Fresh Market, has joined to lead strategic initiatives.
Grocery Outlet Holding Corp. (NASDAQ: GO) has scheduled its fourth quarter and fiscal 2024 financial results release for Tuesday, February 25, 2025, after market close. The company will host a conference call at 4:30pm ET (1:30pm PT) to discuss the results, with interested investors and analysts invited to dial (877) 407-9208 approximately 10 minutes before the call.
A live audio webcast will be available at investors.groceryoutlet.com, and a replay will be accessible for about two weeks by dialing (844) 512-2921 with access code 13750098. The company operates as a high-growth, extreme value retailer with over 520 independently operated stores across 16 states, including California, Washington, Oregon, Pennsylvania, and others, selling quality name-brand consumables and fresh products.
Grocery Outlet Holding Corp. (NASDAQ: GO) has announced the appointment of Jason Potter as President and Chief Executive Officer, effective February 3, 2025. Potter brings over 30 years of grocery retail experience and will also join the company's Board of Directors.
Potter joins from The Fresh Market, where he served as CEO since March 2020, leading a successful business transformation with improved customer experience and earnings growth. Previously, he spent 26 years at Sobeys, Inc., overseeing 1,500+ stores with more than $12 billion in revenues across multiple operational and leadership roles.
Potter succeeds Eric J. Lindberg, Jr., who has served as Interim President and CEO since October 2024. Lindberg will continue as Chairman of the Board and work with Potter during the transition period, focusing on introducing him to independent operators and key suppliers.
Grocery Outlet (NASDAQ: GO) has announced its Free Groceries for Life sweepstakes, running from January 8 to March 31, 2025. The promotion will select 32 winners in April, offering prizes including free groceries for life, one year, or one month.
Participants can enter through the GO Mobile App by entering their phone number at checkout or showing their app to cashiers. The number of entries varies based on purchase date, amount, and basket items. The grand prizes include two lifetime grocery rewards (worth $240,000 each), ten one-year grocery prizes ($6,000 each), and twenty one-month prizes ($500 each).
The sweepstakes is open to residents aged 18 or older in California, Delaware, Idaho, Maryland, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, and Washington. No purchase is necessary to participate, and entries can be submitted through the company's website.
Grocery Outlet Holding Corp. (NASDAQ: GO) has appointed Christopher Miller as Executive Vice President and Chief Financial Officer, effective January 6, 2025. Miller, who will report to Eric Lindberg, Chairman and Interim CEO, joins from Shamrock Foods Company where he served as CFO. He brings extensive experience from previous roles at Core-Mark Holding Co., Cost Plus World Market, Levi Strauss & Co., and Hermes.
The appointment follows Lindsay Gray's interim CFO tenure since March 2024. Gray will return to her previous role as Senior Vice President, Accounting (Principal Accounting Officer). The company expects Miller's experience in finance, accounting, business strategy, and public company operations to benefit independent operators, shareholders, and overall business growth.
Grocery Outlet reported Q3 fiscal 2024 financial results with net sales increasing 10.4% to $1.11 billion and comparable store sales growing 1.2%. The company faced challenges as net income decreased 10.9% to $24.2 million ($0.24 per share), while adjusted EBITDA increased 6.0% to $72.3 million. The company updated its fiscal 2024 guidance, lowering comparable store sales growth expectations to ~2.4% from ~3.5% and adjusted EBITDA to $237-242 million from $252-260 million. The Board approved a new $100 million share repurchase program. The company operates 529 stores across 16 states after opening 5 new locations in Q3.
Grocery Outlet Holding Corp. (NASDAQ: GO) announces immediate leadership change as Eric Lindberg returns as Interim President and CEO, replacing RJ Sheedy who has stepped down. The company has initiated a search for a permanent CEO. Preliminary Q3 2024 results show net sales of $1.1 billion, up 10.4% year-over-year, with comparable store sales increasing 1.2%. While expected to exceed full-year net sales guidance of $4.30-4.35 billion, the company anticipates reducing its full-year adjusted EBITDA guidance below the previously stated range of $252.0-260.0 million.
Grocery Outlet Holding Corp. (NASDAQ: GO) has announced that it will release its financial results for the third quarter of fiscal 2024 after the market close on Tuesday, November 5, 2024. The company will host a conference call at 4:30pm ET (1:30pm PT) to discuss the results.
Investors and analysts can join the call by dialing (877) 407-9208 approximately 10 minutes before the start. A live audio webcast will be available at https://investors.groceryoutlet.com. A taped replay will be accessible for about two weeks by dialing (844) 512-2921 with access code 13744383.
Grocery Outlet is a high-growth, extreme value retailer based in Emeryville, California, with over 520 stores across multiple states, including California, Delaware, Idaho, Maryland, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, Washington, Alabama, Georgia, Kentucky, North Carolina, Tennessee, and Virginia.
Grocery Outlet Holding Corp. (NASDAQ: GO) has launched its new private label program, GO Brands. The program features three brands: SimplyGO, GO Home & Haven, and GO Paw & Pamper. 100 new private label SKUs will be available in stores by the end of 2024 under SimplyGO and GO Home & Haven, with GO Paw & Pamper arriving in 2025.
SimplyGO offers affordable grocery and beverage basics, GO Home & Haven provides household essentials and personal care items, while GO Paw & Pamper will focus on pet food and accessories. The company aims to deliver high-quality products at unbeatable values, complementing their existing assortment of name-brand products and enhancing the treasure hunt shopping experience for customers.
Grocery Outlet Holding Corp. (NASDAQ: GO) has released its second annual Impact Report for fiscal year 2023, highlighting its commitment to Touching Lives for the Better. Key achievements include:
- Passed an estimated $2.8 billion in savings to customers, offering 40% average discounts compared to conventional grocers
- Raised over $3.9 million through the Independence from Hunger® Campaign
- Supported 447 Independent Operators and created 44 new entrepreneurial opportunities
- Focused on reducing food waste through opportunistic sourcing
- Improved operational efficiency with 98% of stores using timed lighting and heating systems
The report also details efforts in providing quality products, community involvement, employee development, and environmental initiatives.