Grocery Outlet Holding Corp. (GO): restructuring charge — Grocery Outlet Q4 net income drops to $2.3M; announces restructuring plan with $52M-$61M costs

Grocery Outlet Holding Corp.

2024-FY EPS reported $0.40 revenue$4,371,501,000

Q4 net sales $1.10B (+10.9%); comps +2.9%; net income $2.3M ($0.02 EPS) vs $14.1M last year.
Full-year net income $39.5M ($0.40 EPS) vs $79.4M; adjusted EBITDA down 6.3% to $236.8M.
Restructuring plan: $52M-$61M total costs ($36M-$45M cash); includes lease terminations for 23 planned stores, warehouse cancellations, 40 job cuts.
Q4 non-cash impairments of $15.9M ($9.2M lease termination + $6.7M warehouse cancellation).
Jason Potter, 30-year industry veteran, appointed President and CEO.

item 2.02 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Grocery Outlet Holding Corp. announced a restructuring with charges of between $52 million and $61 million affecting corporate (Grocery Outlet) (approximately 40 full-time employees).

Type: restructuring
Charge: between $52 million and $61 million
Affected area: corporate (Grocery Outlet)
Headcount: approximately 40 full-time employees

Exact text from the filing

expected to be substantially completed by the first half of fiscal 2025. The Company currently estimates that it will incur total costs under the Restructuring Plan of between $52 million and $61 million, of which between $36 million and $45 million are expected to be cash expenditures. The Restructuring Plan includes the activities set forth below. • The Company

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Grocery Outlet Holding Corp. filing history →

Source: SEC EDGAR

accession 0001771515-25-000012

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