Grocery Outlet Q2 net sales $1.01B (+12.5%), comp sales up 9.2%; raises FY guidance

Grocery Outlet Holding Corp.

2023-Q2 EPS reported $0.38 revenue$1,975,722,000

Net sales reached $1.01B, a Q2 record and first $1B quarter; comparable store sales +9.2% on 9.1% transaction growth.
GAAP net income $24.5M ($0.24 diluted EPS), up 21.8% YoY; adjusted EPS $0.32, up 18.5%.
Adjusted EBITDA rose 22.7% to $70.5M (7.0% of sales); gross margin expanded.
Opened 4 stores during quarter, ended with 447 stores across eight states.
Company raised fiscal 2023 guidance on strong performance and customer demand.

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 the second quarter of fiscal 2023 ended July 1, 2023 results: revenue $1.01 billion, net income $24.5 million, or $0.24 per diluted share. Guidance raised.

Period: the second quarter of fiscal 2023 ended July 1, 2023
Revenue: $1.01 billion
Net income: $24.5 million, or $0.24 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

for the second quarter of fiscal 2023 ended July 1, 2023. Highlights for Second Quarter Fiscal 2023 as compared to Second Quarter Fiscal 2022: • Net sales increased by 12.5% to $1.01 billion. • Comparable store sales increased by 9.2%, driven by a 9.1% increase in the number of transactions while average transaction size was flat. • The Company opened four new stores

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Source: SEC EDGAR

accession 0001771515-23-000085

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