Grocery Outlet reported increased net sales and gross profit for the first quarter of fiscal 2025, driven by new store sales and improved inventory management. Despite an operating loss and net loss due to restructuring charges, adjusted net income and adjusted EBITDA saw significant increases.
Net sales increased by 8.5% to $1.13 billion.
Comparable store sales increased by 0.3%.
Gross margin improved to 30.4% from 29.3% in the prior year.
Adjusted net income increased by 47.7% to $13.0 million.
Grocery Outlet maintained most of its key guidance figures for fiscal 2025, with an update to comparable store sales increase expectations.
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