Grocery Outlet Holding Corp. reported solid fourth quarter results with net sales increasing by 10.9% to $1.10 billion and adjusted EBITDA increasing by 12.5% to $57.2 million. However, net income decreased significantly to $2.3 million from $14.1 million in the prior year, primarily due to lower gross margin and higher selling, general and administrative expenses.
Net sales for Q4 2024 increased by 10.9% to $1.10 billion compared to Q4 2023.
Comparable store sales increased by 2.9% in Q4 2024.
Adjusted EBITDA increased by 12.5% to $57.2 million in Q4 2024.
Net income for Q4 2024 decreased to $2.3 million from $14.1 million in Q4 2023.
For fiscal year 2025, Grocery Outlet expects net sales between $4.7 billion and $4.8 billion, comparable store sales increase of 2.0% to 3.0%, and adjusted EBITDA between $260 million and $270 million. The company also anticipates opening 33 to 35 net new stores and projects adjusted diluted earnings per share between $0.70 and $0.75.
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