Grocery Outlet Q1 net sales +16.1%; raises fiscal 2023 guidance

Grocery Outlet Holding Corp.

2023-Q1 EPS reported $0.14 revenue$965,467,000

Net sales $965.5M (+16.1% YoY); comparable store sales +12.1% (transactions +7.9%, ticket +3.9%).
GAAP net income $13.7M ($0.14 diluted EPS); adjusted net income $27.0M ($0.27 adjusted diluted EPS).
Adjusted EBITDA $63.1M (+36.9% YoY); margins expanded 100 bps as a percentage of net sales.
Opened 3 new stores in Q1; ended quarter with 444 stores across eight states.
Company raises full-year fiscal 2023 guidance on strong Q1 performance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Grocery Outlet Holding Corp. reported first quarter of fiscal 2023 ended April 1, 2023 results: revenue Net sales increased by 16.1% to $965.5 million, net income Net income increased 18.5% to $13.7 million, EPS $0.14 per diluted share. Guidance raised.

Period: first quarter of fiscal 2023 ended April 1, 2023
Revenue: Net sales increased by 16.1% to $965.5 million
Net income: Net income increased 18.5% to $13.7 million
EPS: $0.14 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Grocery Outlet Holding Corp. Announces First Quarter Fiscal 2023 Financial Results Q1 fiscal 2023 net sales increased 16.1% Comparable store sales grew 12.1% driven by a 7.9% increase in transactions GAAP net income increased 18.5% with diluted EPS of $0.14 Adjusted EBITDA (1) increased 36.9%, up 100 basis points as a percentage of net sales Company raises guidance for fiscal 2023

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Source: SEC EDGAR

accession 0001771515-23-000046

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