Grocery Outlet Q1 net sales up 10.5% to $831.4M; comp store sales +5.2%

Grocery Outlet Holding Corp.

2022-Q1 EPS reported $0.12 revenue$831,427,000

Net income $11.6M ($0.12 diluted EPS), down 38.7% YoY; adjusted net income $21.5M ($0.22 adjusted EPS), down 7%.
Adjusted EBITDA rose 0.8% to $49.3M; opened 4 stores, ended quarter with 418 stores.
CEO cites better-than-expected top and bottom line; sees strong traffic as consumers stretch dollars amid inflation.
No updated guidance provided; company continues investments in future growth.

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