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) 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.
Grocery Outlet Holding Corp. (NASDAQ: GO) reported Q2 fiscal 2024 financial results with net sales increasing 11.7% to $1.13 billion and comparable store sales growing 2.9%. The company opened 11 new stores and acquired 40 stores from United Grocery Outlet, ending the quarter with 524 stores in 16 states. However, gross margin decreased by 140 basis points to 30.9%, and net income decreased 42.8% to $14.0 million. The company updated its fiscal 2024 guidance, projecting comparable store sales increase of ~3.5% and adjusted earnings per share of $0.89 to $0.95. Despite challenges from technology platform implementation, management expressed satisfaction with Q2 performance and progress in systems transition.
Grocery Outlet Holding Corp. (NASDAQ: GO) has announced that it will release its second quarter fiscal 2024 financial results after the market close on Tuesday, August 6, 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 about 10 minutes before the start time.
A live audio webcast of the conference call will be available on the company's investor relations website. A taped replay will be accessible for approximately two weeks after the call. Grocery Outlet is a high-growth, extreme value retailer operating over 520 stores across multiple states, offering quality, name-brand consumables and fresh products through independently operated stores.
Grocery Outlet launched its 14th annual Independence from Hunger campaign on June 26, 2024, which will run until July 31. The campaign aims to combat food insecurity by collecting cash donations and pre-made bags of nonperishable foods at over 470 locations. Contributions can also be made online to support the Alameda County Community Food Bank. With rising inflation, food bank usage has increased to 41 million Americans, but donations have declined. Since its inception in 2011, the campaign has raised over $20 million. Customers can support the cause by donating $5 in-store or online to receive a $5 coupon, buying pre-made bags, or making monetary donations in-store. The initiative aligns with Grocery Outlet's long-standing commitment to community support and saving shoppers up to 40% on groceries.