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Grocery Outlet Holding Corp. Announces Third Quarter Fiscal 2024 Financial Results

Grocery Outlet Holding Corp. (GO) 
Last grocery outlet holding corp. earnings: 3/24 04:05 pm Check Earnings Report
Company Research Source: GlobeNewswire
Q3 fiscal 2024 net sales increased 10.4%Q3 fiscal 2024 comparable store sales grew 1.2%, driven by a 2.0% increase in transactionsCompany updates key guidance for fiscal 2024 EMERYVILLE, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ: GO) ("Grocery Outlet" or the "Company") today announced financial results for the third quarter of fiscal 2024 ended September 28, 2024. Highlights for Third Quarter Fiscal 2024 as compared to Third Quarter Fiscal 2023: Net sales increased by 10.4% to $1.11 billion.Comparable store sales increased by 1.2%, driven by a 2.0% increase in the number of transactions, partially offset by a 0.7% decrease in average transaction size.The Company opened 5 new stores, ending the quarter with 529 stores in 16 states.Gross margin decreased by 30 basis points to 31.1%.Selling, general and administrative expenses increased by 9.5% to $304.6 million, or 27.5% of net sales.Net income decreased 10.9% to $24.2 million, or $0.24 pe Show less Read more
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