Grocery Outlet Holding Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 3, 2021
August 10, 2021 at 04:05 pm EDT
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Grocery Outlet Holding Corp. reported unaudited consolidated earnings results for the second quarter and six months ended July 3, 2021. For the quarter, the company reported net sales of $775,535,000 compared to $803,429,000 a year ago. Income from operations was $23,674,000 compared to $32,359,000 a year ago. Net income and comprehensive income was $19,640,000 or $0.21 per basic share and $0.20 per diluted share compared to $29,333,000 or loss of $0.32 per basic share and $0.30 per diluted share a year ago.
For the six months, the company reported net sales of $1,528,001,000 compared to $1,563,737,000 a year ago. Income from operations was $47,521,000 compared to $49,232,000 a year ago. Net income and comprehensive income was $38,532,000 or $0.40 per basic share and $0.39 per diluted share compared to $41,975,000 or loss of $0.47 per basic share and $0.43 per diluted share 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.
GROCERY OUTLET HOLDING CORP. 
