Grocery Outlet Holding Stock Price, News & Analysis

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.

Grocery Outlet Holding Corp. (NASDAQ: GO) raised its fiscal year 2022 guidance after reporting a strong second quarter. Net sales surged by 15.7% to $897.7 million, with comparable store sales up 11.2%. Net income rose 2.3% to $20.1 million, or $0.20 per diluted share. Adjusted EBITDA increased 18.3% to $60.1 million. The company now expects net sales of $3.46 billion to $3.48 billion and comparable store sales growth of 8.0% to 8.5% for the fiscal year. Cash and cash equivalents stood at $84.3 million.

Grocery Outlet Holding Corp. (NASDAQ: GO) is set to release its financial results for Q2 of fiscal 2022 on August 9, 2022, after market close. Following the release, the company will host a conference call at 4:30 PM ET to discuss the results. Investors can participate by calling (877) 407-9208 approximately 10 minutes prior to the call using conference ID #13730478. A live audio webcast will also be available on the company's investor relations website. The call replay will be accessible within two hours post-event.

Uber Technologies (NYSE: UBER) and Grocery Outlet (NASDAQ GS: GO) have launched a pilot program for on-demand and scheduled grocery delivery across 72 stores in California, Oregon, and Washington. The initiative allows customers to order their favorite Grocery Outlet products through Uber and Uber Eats. To celebrate the launch, first-time Grocery Outlet customers receive $0 Delivery Fee for orders over $30, while Uber One members enjoy free delivery on orders over $15. This partnership aims to expand Grocery Outlet's reach and enhance Uber's grocery delivery service.