Business
Grocery Outlet Holding Corp. Announces First Quarter Fiscal 2026 Financial Results
EMERYVILLE, Calif., May 13, 2026 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ: GO) ("Grocery Outlet," the "Company," "we" or "our") today
About this update from Grocery Outlet Holding Corp.
[{"type":"text","content":"EMERYVILLE, Calif., May 13, 2026 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ: GO) (\"Grocery Outlet,\" the \"Company,\" \"we\" or \"our\") today announced financial results for the first quarter of fiscal 2026 ended April 4, 2026. Highlights for First Quarter Fiscal 2026 as compared to First Quarter Fiscal 2025: Net sales increased by 3.6% to $1.17 billion.Comparable store sales declined by 1.0%.Gross margin was 29.6% compared to 30.4% last year, a decline of 80 basis points, including a 50 basis point impact from inventory markdowns and write-offs associated with restructuring activities.Operating loss was $178.0 million, which included $158.0 million in non-cash goodwill impairment and $18.2 million in restructuring charges.Net loss was $180.3 million, or $(1.83) per diluted share, compared to net loss of $23.3 million, or $(0.24) per diluted share last year. Adjusted net income(1) was $4.6 million, or $0.05 diluted adjusted earnings per share(1), compared to $13.0 million, or $0.13 diluted adjusted earnings per share(1) last year.Adjusted EBITDA(1) was $43.1 million, representing 3.7% of net sales. “We delivered first quarter results consistent with our guidance, as our work to strengthen the business drove sequential improvements in comp-store sales throughout the quarter,” said Jason Potter, President and CEO of Grocery Outlet. “We made meaningful progress in increasing our opportunistic mix to offer more of the extreme value products that resonate with our customers. At the same time, we continued to advance our key strategic priorities to position Grocery Outlet to generate sustainable, profitable growth.” __________________________________(1) Adjusted net income, diluted adjusted earnings per share, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures, which exclude the impact of certain special items. Please note that our non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. See the \"Non-GAAP Financial Information\" section of this release as well as the respective reconciliations of our non-GAAP financial measures below for additional information about these items. First Quarter Fiscal 2026 Financial Summary Net sales increased 3.6% to $1.17 billion due to new store sale...