Grocery Outlet Holding Stock Price, News & Analysis

Grocery Outlet Holding Corp. (NASDAQ: GO) reported an 18.9% increase in Q4 fiscal 2022 net sales, reaching $930.8 million, with comparable store sales growing 15.1%. Net income surged 139.3% to $15.9 million, resulting in a diluted EPS of $0.16. Fiscal 2022 saw net sales rise 16.2% to $3.58 billion, net income increased 4.4% to $65.1 million, and adjusted EBITDA rose under both previous and revised definitions. The company plans to open 25 to 28 new stores in fiscal 2023 and anticipates net sales of $3.85 to $3.90 billion. A new credit facility was established, enhancing liquidity. Full details can be accessed through the company's investor relations.

Grocery Outlet Holding Corp. (NASDAQ: GO) is set to release its fourth-quarter and full fiscal 2022 financial results on February 28, 2023, after the market closes. A conference call will be held at 4:30 PM ET to discuss these results, with investors encouraged to dial in 10 minutes beforehand. Participants can access the call live via audio webcast at Grocery Outlet's investor relations website. A recorded replay will also be available shortly after the call concludes for approximately two weeks. Grocery Outlet operates over 430 stores across several U.S. states, offering a range of quality, name-brand consumables at discounted prices.

Uber Technologies and Grocery Outlet have expanded their partnership to include on-demand grocery delivery from 386 locations across seven states, including New Jersey, Maryland, and Pennsylvania. This collaboration enables consumers to order their favorite products via the Uber and Uber Eats apps. To celebrate, customers can enjoy a $10 discount on orders over $40 using promo code GOSAVE10. The partnership aims to meet consumer demands for quality and savings in grocery shopping, reflecting Uber's ongoing growth in the grocery delivery segment since its launch in July 2020.

Grocery Outlet Holding Corp. (NASDAQ: GO) announced leadership changes effective January 1, 2023. CEO Eric Lindberg will become Chairman of the Board, while President RJ Sheedy will step in as the new CEO. Lindberg expressed confidence in Sheedy's leadership abilities to drive growth, citing his extensive experience in the grocery sector since joining the company in 2012. The company operates over 430 stores across multiple states and aims to continue its strategic expansion under Sheedy's guidance.

Grocery Outlet Holding Corp. (NASDAQ: GO) reported robust financial results for Q3 2022, with net sales climbing 19.4% to $918.2 million. Comparable store sales surged 15.4%, while net income increased 2.1% to $17.5 million. The company plans to open 26 new stores, raising its net sales guidance for the fiscal year from $3.46-$3.48 billion to approximately $3.55 billion. Adjusted EBITDA also reflects growth, up 15.0% to $59.1 million. CFO Charles Bracher highlighted strong trends and strategic investments aimed at enhancing shareholder value.

Grocery Outlet Holding Corp. (NASDAQ: GO) will announce its third-quarter fiscal 2022 financial results on November 8, 2022, after market close. A conference call is scheduled for 4:30 PM ET to discuss these results. Interested investors can join the call by dialing (877) 407-9208 with conference ID #13730479. A live audio webcast will also be accessible online. A replay will be available within two hours after the call for two weeks. Grocery Outlet operates over 430 stores across several states, offering quality consumables at extreme value.

MacGregor Read Retires from Grocery Outlet

On September 1, 2022, S. MacGregor Read, Jr. retired from his position as Vice Chairman of Grocery Outlet's Board of Directors after nearly 30 years. Read has played a pivotal role in the company's growth, which includes significant increases in sales and store numbers. He began his career at Grocery Outlet as an intern in 1993, serving in various capacities over the years. Eric Lindberg, the current CEO, praised Read's contributions and expressed confidence in the company's future. Grocery Outlet operates over 420 stores across multiple states.

Grocery Outlet Holding Corp. (NASDAQ: GO) will participate in a fireside chat at the Goldman Sachs 29th Annual Global Retailing Conference on September 8, 2022, at 8:05 AM ET. The event will feature executives including CEO Eric Lindberg, President RJ Sheedy, CFO Charles Bracher, and VP of Investor Relations Arvind Bhatia. The presentation will be webcast live and later archived online. Grocery Outlet operates over 420 stores across several states, focusing on offering high-quality, name-brand consumables at extreme value.

Grocery Outlet (NASDAQ: GO) has partnered with DoorDash (NYSE: DASH) to offer same-day grocery delivery from over 398 locations nationwide. This service allows DoorDash customers to access Grocery Outlet's extensive selection of products at prices typically 40% to 70% lower than retail. The partnership aims to help consumers save time and money as they face rising prices. DashPass members can enjoy exclusive discounts on orders. The initiative reflects DoorDash's commitment to convenience and affordability in grocery shopping.