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Oct 02, 2021
Grocery Outlet Q3 2021 Earnings Report
Announced third quarter fiscal 2021 financial results.
Key Takeaways
Grocery Outlet announced its third quarter fiscal 2021 financial results, with net sales increasing by 0.6% to $768.9 million. The company opened 7 new stores, ending the quarter with 407 stores. Net income decreased 57.7% to $17.1 million, or $0.17 per diluted share.
Net sales increased by 0.6% to $768.9 million.
Comparable store sales decreased by 4.3% compared to a 9.1% increase in the same period last year.
The Company opened 7 new stores, ending the quarter with 407 stores in six states.
Net income decreased 57.7% to $17.1 million, or $0.17 per diluted share.
Forward Guidance
The Company expects to open eight stores during the fourth quarter of fiscal 2021 for a total of 36 new stores opened in fiscal 2021. Based on current trends, the Company expects comparable store sales for the full fourth quarter of fiscal 2021 to range between negative 3.5% to negative 2.5%.
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