secwatch.observer — SEC 8-K summary
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Issuer:     Grocery Outlet Holding Corp. (GO)
CIK:        0001771515
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001771515-24-000092
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Grocery Outlet Q1 net loss $1.0M; sales up 7.4% but gross margin down 180bps
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- Net sales $1.04B (+7.4% YoY); comparable store sales +3.9% (transactions +7.0%, ticket -2.9%).
- Net loss $1.0M (EPS -$0.01); adjusted net income $8.8M (-67.4%) vs $27.0M prior year.
- Gross margin 29.3% (-180bps); system disruptions estimated to have negatively impacted margin by 210bps.
- Adjusted EBITDA $39.4M (-37.5%); includes $12.4M operator commission support related to system upgrades.
- Opened 6 new stores in Q1, ending with 474 stores across nine states.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1771515/000177151524000092/0001771515-24-000092-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1771515/000177151524000092/go-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001771515-24-000092

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