Grocery Outlet to refocus on value to right the ship [Yahoo! Finance]
Grocery Outlet Holding Corp. (GO)
Last grocery outlet holding corp. earnings: 3/24 04:05 pm
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Source: Yahoo! Finance
Lindberg, who is stepping in as interim president and CEO, said in the earnings call that system upgrades for the retailer that began in August 2023 led to significant troubles for the Grocery Outlet, “including poor data visibility, slow system speeds, and a loss of tools and functionality.” “These issues hurt our buyers' ability to write purchase orders efficiently, our inventory planning and supply chain teams' ability to accurately manage inventory, and our operators' ability to see real-time inventory in their order guide to bring product into their stores. The impact on the business has been significant,” Lindberg said. Lindberg said Grocery Outlet “missed the mark” earlier in 2024 due to “a combination of pricing we took to reestablish healthy margins that coincided with competitive pricings that picked up.” Grocery Outlet reported that in the third quarter net sales increased 10.4% to $1.11 billion, but comparable store sales grew a mere 1.2%, which was driven by a 2% i
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News
- Grocery Outlet Holding Third Quarter 2024 Earnings: EPS Beats Expectations [Yahoo! Finance]Yahoo! Finance
- Grocery Outlet Holding Corp. (NASDAQ: GO) had its price target lowered by analysts at UBS Group AG from $21.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
- Grocery Outlet Holding Corp. (NASDAQ: GO) had its price target lowered by analysts at Roth Mkm from $20.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
- Grocery Outlet Holding Corp. (NASDAQ: GO) had its price target lowered by analysts at Telsey Advisory Group from $19.00 to $18.00. They now have a "market perform" rating on the stock.MarketBeat
- Grocery Outlet Holding Corp. (NASDAQ: GO) had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $29.00 to $26.00. They now have a "buy" rating on the stock.MarketBeat
GO
Earnings
- 11/5/24 - Beat
GO
Sec Filings
- 11/12/24 - Form SC
- 11/6/24 - Form 10-Q
- 11/5/24 - Form 8-K
- GO's page on the SEC website