Grocery Outlet Q2 net sales $775.5M (-3.5% YoY); comp sales -10.0%; net income $19.6M (-33%)

Grocery Outlet Holding Corp.

2021-Q2 EPS reported $0.39 revenue$1,528,001,000

Comparable store sales fell 10.0% vs +16.7% in Q2 2020; net sales $775.5M, down 3.5%.
Net income $19.6M ($0.20 diluted EPS) vs $29.3M ($0.30) prior year; adjusted net income $23.3M ($0.23 adj. EPS).
Adjusted EBITDA decreased 15.7% to $50.8M; opened 11 new stores, ending quarter with 400 stores.
CEO noted results at high end of expectations, citing strong opportunistic supply and customer engagement.
Company continues to invest in long-term growth despite changing consumer behaviors.

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