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Oct 01, 2022
Grocery Outlet Q3 2022 Earnings Report
Grocery Outlet announced financial results for the third quarter of fiscal 2022, with net sales increasing and comparable store sales showing strong growth.
Key Takeaways
Grocery Outlet's Q3 2022 results showed strong performance with a 19.4% increase in net sales to $918.2 million and a 15.4% increase in comparable store sales. The company opened six new stores, ending the quarter with 431 stores. Net income increased by 2.1% to $17.5 million, or $0.17 per diluted share.
Net sales increased by 19.4% to $918.2 million.
Comparable store sales increased by 15.4%.
The Company opened six new stores, ending the quarter with 431 stores in eight states.
Net income increased by 2.1% to $17.5 million, or $0.17 per diluted share.
Forward Guidance
The Company is revising its fiscal 2022 outlook on key metrics.
Positive Outlook
- Net sales are expected to be approximately $3.55 billion.
- Comparable store sales increase is expected to be approximately 11%.
- Gross margin is expected to be approximately 30.5%.
- Adjusted EBITDA is expected to be approximately $224 million.
- Adjusted earnings per share — diluted is expected to be approximately $1.00.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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