Grocery Outlet Holding Stock Price, News & Analysis

Grocery Outlet Holding Corp. (NASDAQ: GO) will announce its fourth quarter and full fiscal year 2020 financial results on March 2, 2021, post-market close. A conference call to discuss these results is scheduled for 4:30 PM ET, with a dial-in for participants. The company operates over 375 stores in the U.S. across various states, offering value to consumers through a network of independently operated stores.

Grocery Outlet Holding Corp. (NASDAQ: GO) announced the appointment of Gail Moody-Byrd and María Fernanda Mejía to its Board of Directors, expanding the board to 12 members as of January 18, 2021. Moody-Byrd brings over 35 years of experience in B2B technology marketing and retail consulting, while Mejía has a global career spanning 30 years in general management and operations. Both appointees align with Grocery Outlet's culture of diversity and are expected to contribute significantly to the company's long-term growth strategies.

Grocery Outlet reported strong financial results for Q3 2020, with net sales increasing 17.1% to $764.1 million. Comparable store sales rose by 9.1%. Net income surged 225.2% to $40.5 million, driven by tax benefits from employee stock options. Adjusted net income increased 141.8% to $49.9 million. The company opened 10 new stores, ending the quarter with 372 locations. For the year-to-date, net sales grew 22.3% to $2.33 billion. The company anticipates opening 34 stores in fiscal 2020, with a steady performance expected in Q4.

Grocery Outlet Holding Corp (NASDAQ: GO) has announced the release of its financial results for Q3 of fiscal 2020, scheduled for November 10, 2020, after market close. A conference call will be held at 4:30 PM ET to discuss these results, with an invitation extended to investors and analysts to join. The call can be accessed via phone or through a live audio webcast. Established in Emeryville, California, Grocery Outlet operates over 350 stores across several states, providing quality, name-brand consumables at value prices.

Grocery Outlet (NASDAQ: GO) announced the resignation of Board members Matthew B. Eisen and Sameer Narang, effective September 2, 2020. Effective September 4, 2020, Carey Jaros was appointed to the Board. Jaros brings over 20 years of experience in strategy, finance, and retail, currently serving as CEO of GOJO Industries. Chairman Erik Ragatz expressed enthusiasm for Jaros' leadership and contributions, indicating a positive outlook for the company's growth strategy.

Grocery Outlet Holding Corp. (NASDAQ: GO) announced its participation in the Goldman Sachs 27th Annual Global Retailing Conference on September 9, 2020, at 12:50 PM ET. CEO Eric Lindberg, CFO Charles Bracher, and VP of Investor Relations Joseph Pelland will represent the company. The audio presentation will be available live via webcast, with an archive accessible for 90 days post-event. Grocery Outlet, based in Emeryville, California, operates over 350 stores across multiple states, focusing on quality, name-brand consumables at extreme value prices.

Grocery Outlet Holdings Corp. announced remarkable financial results for Q2 FY2020, with net sales rising 24.5% to $803.4 million and comparable store sales increasing by 16.7%. Net income surged to $29.3 million, up $40.0 million year-over-year. Adjusted EBITDA grew 34.7% to $60.6 million, while adjusted net income soared by 189.2% to $41.8 million. The company opened 7 new stores, ending with 362 stores in six states. Despite not giving formal 2020 earnings guidance due to COVID-19 uncertainties, the company plans to open up to 32 new stores this year.

Grocery Outlet (NASDAQ: GO) will release its second quarter financial results on August 10, 2020, post-market. A conference call will be held at 4:30 PM ET to discuss the results, with investors invited to join by dialing (877) 407-9208, using conference ID #13706657. A live audio webcast will be available at https://investors.groceryoutlet.com. A replay will be accessible shortly after the call ends and last for two weeks.

Grocery Outlet reported strong Q1 2020 results, with net sales rising 25.4% to $760.3 million.

Comparable store sales increased 17.4%, significantly up from the 4.2%% growth in Q1 2019. Net income surged 235.0% to $12.6 million, equating to $0.13 per diluted share.

Adjusted net income also jumped 242.2% to $34.0 million. Despite challenges from COVID-19, the company aims to open up to 30 new stores in 2020 and maintains a strong liquidity position with $160.9 million in cash.