Grocery Outlet Holding Corp. Reports Earnings Results for the Third Quarter and Nine Months Ended October 02, 2021
November 09, 2021 at 04:09 pm EST
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Grocery Outlet Holding Corp. reported earnings results for the third quarter and nine months ended October 02, 2021. For the third quarter, the company reported sales was USD 768.88 million compared to USD 764.08 million a year ago. Net income was USD 17.14 million compared to USD 40.47 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 0.17 compared to USD 0.41 a year ago.
For the nine months, sales was USD 2,296.88 million compared to USD 2,327.82 million a year ago. Net income was USD 55.67 million compared to USD 82.45 million a year ago. Basic earnings per share from continuing operations was USD 0.58 compared to USD 0.91 a year ago. Diluted earnings per share from continuing operations was USD 0.56 compared to USD 0.84 a year ago.
Grocery Outlet Holding Corp. is a retailer of name-brand consumables and fresh products sold through a network of independently operated stores. The Company operates over 470 stores in California, Washington, Oregon, Pennsylvania, Idaho, Nevada, Maryland, New Jersey and Ohio. Its product offering includes staples, across grocery, refrigerated and frozen foods, beer and wine, fresh meat and seafood, and health and beauty care, others. It distributes inventory through eight primary distribution centers, three of which it operates and five of which are operated by third parties. It has an in-house transportation fleet, as well as transportation partner relationships. It also owns United Grocery Outlet, a closeout grocery retailer with over 40 stores in Tennessee, North Carolina, Georgia, Alabama, Kentucky, and Virginia. It is focused on centralized marketing efforts primarily on digital ads, emailed WOW! Alerts, social media and radio commercials, and in-store and outdoor signage.