earnings
confidence high
sentiment negative
materiality 0.80
Grocery Outlet Q3 net sales flat, comps down 4.3%; net income falls 57.7%; $100M buyback authorized
Grocery Outlet Holding Corp.
2021-Q3 EPS reported
$0.56
revenue$2,296,881,000
- Net sales $768.9M (+0.6% YoY); comparable store sales -4.3% vs +9.1% last year.
- Net income $17.1M (-57.7% YoY), $0.17 diluted EPS; adjusted net income $23.4M (-15.3%).
- Adjusted EBITDA $51.4M (-6.2% YoY); adjusted diluted EPS $0.24.
- Opened 7 new stores; total stores 407 across six states.
- Board authorized $100M share repurchase program, no expiration, funded from cash on hand.