Grocery Outlet Trades Lower On Mixed Q3 Preliminary Results

Grocery Outlet Holding GO has released its third-quarter fiscal 2019 financial developments. Grocery Outlet went public in June.

For the 13 weeks ending Sept. 28, the company expects net sales growth of 13.1% to $652.5 million compared to $576.8 million for the 13 weeks ended Sept. 29, 2018.

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Grocery Outlet says the increase is primarily attributable to 30 net new stores opened over the last 12 months as well as an increase in comparable store sales.

Grocery Outlet expects income from operations to be between $20.4 million and $21.4 million, compared to $24.1 million for the thirteen weeks ended Sept. 29, 2018, a decrease of 13.2%, calculated using the midpoint of the range.

The company generated net sales of $2.29 billion in 2018, up 10% year over year from $2.08 billion in 2017. For the three months ended March, the company raked in net sales of $606.27 million.

Grocery Outlet shares were trading down 0.061% at $32.99 in Thursday’s pre-market session. The stock has a 52-week range between $47.57 and $27.75.