NEW YORK, NY / ACCESSWIRE / December 23, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Grocery Outlet Holding Corp. ("Grocery Outlet Holding Corp.") (NASDAQ:GO) concerning possible violations of federal securities laws. On May 7, 2024, Grocery Outlet reported 1Q 2024 earnings that fell well below expectations and then lowered its guidance for the year.
NEW YORK, NY / ACCESSWIRE / December 19, 2024 / Levi & Korsinsky notifies investors that it has commenced an investigation of Grocery Outlet Holding Corp. ("Grocery Outlet Holding Corp.") (NASDAQ:GO) concerning possible violations of federal securities laws. On May 7, 2024, Grocery Outlet reported 1Q 2024 earnings that fell well below expectations and then lowered its guidance for the year.
Grocery Outlet (GO) reported earnings 30 days ago. What's next for the stock?
I maintain a sell rating for Grocery Outlet Holding stock due to persistent poor same-store sales and gross margin outlook. 3Q24 earnings show further SSS deceleration and worsening unit economics, with declining margins across the board. Despite a sharp valuation derating, significant uncertainties and competitive pressures suggest the stock will, at best, trade sideways.
Grocery Outlet Holding Corp GO reported upbeat earnings for its third quarter on Tuesday.
GO reports Q3 2024 results with a 10.4% net sales increase, driven by solid comparable store sales performance and the addition of new store openings.
Grocery Outlet Holding Corp. (NASDAQ:GO ) Q3 2024 Earnings Conference Call November 5, 2024 4:30 PM ET Company Participants Christine Chen - Head of Investor Relations Eric Lindberg - Chairman of the Board and Interim President and Chief Executive Officer Lindsay Gray - Interim Chief Financial Officer and Senior Vice President, Accounting Conference Call Participants Operator Greetings, and welcome to Grocery Outlet's Fiscal Third Quarter 2024 Earnings Results Conference. At this time, all participants are in listen-only mode.
Grocery Outlet Holding Corp. (GO) came out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.31 per share a year ago.
GO's opportunistic purchasing, targeted marketing, store expansion and e-commerce efforts are likely to have boosted its sales this quarter.
The system transition that has posed challenges for Grocery Outlet negatively impacts both operational efficiency and financial performance.
The system transition, which has posed challenges for GO, is negatively impacting its operational efficiency and financial performance.
The systems transition that has posed challenges for Grocery Outlet negatively impacting both operational efficiency and financial performance.