stockguard
4 years ago
Grocery Outlet (NYSE:GO) Releases FY 2019 After-Hours Earnings Guidance
Grocery Outlet (NYSE:GO) issued an update on its FY 2019
After-Hours earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.73-0.74 for the period, compared to the Thomson Reuters consensus estimate of $0.72. The company issued revenue guidance of $$2.55 billion, compared to the consensus revenue estimate of $$2.55 billion.
Grocery Outlet stock traded up $0.83 during trading hours on Tuesday, hitting $32.60. The company had a trading volume of 9,739 shares, compared to its average volume of 769,049. Grocery Outlet has a 1 year low of $27.75 and a 1 year high of $47.57. The business’s 50-day simple moving average is $32.03.
Grocery Outlet (NYSE:GO) last released its quarterly earnings data on Monday, November 11th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. The company had revenue of $652.50 million during the quarter, compared to analysts’ expectations of $652.60 million. Grocery Outlet’s revenue for the quarter was up 13.1% on a year-over-year basis.
Several equities research analysts have issued reports on GO shares. Deutsche Bank boosted their price objective on shares of Grocery Outlet from $40.00 to $43.00 and gave the company a buy rating in a research report on Wednesday, August 14th. Barclays reissued a hold rating and issued a $37.00 price objective on shares of Grocery Outlet in a research report on Thursday, August 15th. Zacks Investment Research cut shares of Grocery Outlet from a buy rating to a hold rating in a research report on Tuesday, November 12th. Jefferies Financial Group set a $51.00 price target on shares of Grocery Outlet and gave the company a buy rating in a report on Tuesday, October 8th. Finally, Bank of America boosted their price target on shares of Grocery Outlet from $37.00 to $40.00 and gave the company a neutral rating in a report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $39.89.
https://newsfilter.io/articles/grocery-outlet-nysego-releases-fy-2019-after-hours-earnings-guidance-a4eb79b988e9b977536eb20e2eacd2c2
stockguard
4 years ago
2 Grocery Outlet Analysts Remain Sidelined Despite Praising Q3
Jayson Derrick , Benzinga Staff Writer FOLLOW
November 12, 2019 3:48pm
Two Grocery Outlet Holding Corp
GO 5.16%
analysts had plenty of praise for the extreme value grocery chain's third-quarter report, but fell short of recommending the stock to investors.
The Analysts
UBS analyst Michael Lasser maintains a Neutral rating on Grocery Outlet with a $38 price target.
Bank of America analyst Robert Ohmes maintains at Neutral, unchanged $40 price target.
UBS: 'Solid' Quarter
Grocery Outlet's "solid" print includes certain metrics among "the finest results" in the entire consumable retail space, Lasser wrote in a note. For example, same-store sales growth accelerated by 150 basis points on a two-year stack to 5.8% from a combination of traffic and ticket growth.
Gross margins were also 38 basis points higher in the quarter due to opportunistic purchasing, improved efficiencies, product delivery savings and inventory management improvements. It may be difficult to sustain gross margin expansion over time, but the company's exposure to the secondary channel offers a form of protection from pressures its competitors face.
Grocery Outlet's stock is trading at around 40 times 2020 estimates, which Lasser said implies investors aren't "pricing in a meaningful slowdown" in the near term. As such, shares offer a "balanced" risk-reward profile at current levels.
BofA: 'Firing On All Cylinders'
Grocery Outlet's business is "firing on all cylinders" as the company saw broad-based strength across all regions and product categories, Ohmes wrote in a note. Behind the scenes, management deserves credit for solid expense controls and initiatives to improve inventory.
The company continues to see a large supply of product availability which can grow to as much as four times its current size, the analyst wrote. Multiple bullish catalysts, including a differentiated business model, extreme customer value proposition, a path to establish 4,000 stores in the U.S., and expectations for comps to come in above current guidance of 1% to 3% are already "well-appreciated by investors" at current levels.
https://www.benzinga.com/analyst-ratings/analyst-color/19/11/14787152/2-grocery-outlet-analysts-remain-sidelined-despite-praising-q3-print
stockguard
4 years ago
Grocery Outlet stock rallies 6% after profit beat, raised outlook
Published: Nov 11, 2019 4:22 p.m. ET
Shares of Grocery Outlet Holding Corp. $GO, +6.29% jumped 6% in the extended session Monday after the company reported adjusted profit above Wall Street expectations and tweaked its guidance higher. Grocery Outlet said it earned $12.4 million, or 13 cents a share, in the quarter, compared with $7.7 million, or 11 cents a share, in the third quarter of fiscal 2018. Adjusted for one-time items, Grocery Outlet earned $20.6 million, or 22 cents a share, compared with $13 million, or 19 cents a share, a year ago. Sales rose 13.1% to $652.5 million, from $576.8 million a year ago. Same-store sales rose 5.8%, the company said. Analysts polled by FactSet had expected adjusted earnings of 19 cents a share on sales of $652.6 million. Grocery Outlet said it expects full-year 2019 sales "slightly above" $2.55 billion, versus a prior guidance of sales between $2.50 billion and $2.53 billion, and adjusted EPS between 73 cents and 74 cents, compared with a previous guidance of adjusted EPS between 68 cents and 71 cents. Shares of Grocery Outlet ended the regular trading day down 0.4%.
https://www.marketwatch.com/story/grocery-outlet-stock-rallies-6-after-profit-beat-raised-outlook-2019-11-11
stockguard
4 years ago
Company Description
We are a high-growth, extreme value retailer of quality, name-brand consumables and fresh products sold through a network of independently operated stores. Each of our stores offers a fun, treasure hunt shopping experience in an easy-to-navigate, small-box format. An ever-changing assortment of “WOW!” deals, complemented by everyday staple products, generates customer excitement and encourages frequent visits from bargain-minded shoppers. Our flexible buying model allows us to offer quality, name-brand opportunistic products at prices generally 40% to 70% below those of conventional retailers. Entrepreneurial independent operators (“IOs”) run our stores and create a neighborhood feel through personalized customer service and a localized product offering. This differentiated approach has driven 15 consecutive years of positive comparable store sales growth. Our founder, Jim Read, pioneered our opportunistic buying model in 1946 and subsequently developed the IO selling approach, which harnesses individual entrepreneurship and local decision-making to better serve our customers. Underlying this differentiated model was a mission that still guides us today: “Touching Lives for the Better.” Since 2006, the third generation of Read family leadership has advanced this mission and accelerated growth by strengthening our supplier relationships, introducing new product categories and expanding the store base from 128 to 323 stores across the West Coast and Pennsylvania. These efforts have more than tripled sales from approximately $640 million in 2006 to $2.3 billion in 2018, representing an 11% compound annual growth rate (“CAGR”). Our passionate, founding family-led management team remains a driving force behind our growth-oriented culture. Our differentiated model for buying and selling delivers a “WOW!” shopping experience, which generates customer excitement, inspires loyalty and supports profitable sales growth: • How we buy: We source quality, name-brand consumables and fresh products opportunistically through a large, centralized purchasing team that leverages long-standing and actively managed supplier relationships to acquire merchandise at significant discounts. Our speed and efficiency in responding to supplier needs, combined with our specialized supply chain capabilities and flexible merchandising strategy, enhance our access to discounted products and allow us to turn inventory quickly and profitably. Our buyers proactively source on-trend products based on changing consumer preferences, including a wide selection of Natural, Organic, Specialty and Healthy (“NOSH”) products. We also source everyday staple products to complement our opportunistic offerings. We purchase over 85,000 stock keeping units (“SKUs”) from approximately 1,500 suppliers annually. Each store offers a curated and ever-changing assortment of approximately 5,000 SKUs, creating a “buy now” sense of urgency that promotes return visits and fosters customer loyalty. • How we sell: Our stores are independently operated by entrepreneurial small business owners who have a relentless focus on selecting the best products for their communities, providing personalized customer service and driving improved store performance. Unlike a store manager of a traditional retailer, IOs are independent businesses and are responsible for store operations, including ordering, merchandising and managing inventory, marketing locally and directly hiring, training and employing their store workers. IOs initially contribute capital to establish their business and share store-level gross profits with us. These factors both align our interests and incentivize IOs to aggressively grow their business to realize substantial financial upside. This combination of local decision-making supported by our purchasing scale and corporate resources results in a “small business at scale” model that we believe is difficult for competitors to replicate. Our value proposition has broad appeal with bargain-minded customers across all income levels, demographics and geographies. Customers visited our stores over 85 million times in 2018 with the average customer shopping twice per month and spending over $25 per transaction. We believe that our sustained focus on delivering ever-changing “WOW!” deals within a fun, treasure hunt shopping environment has generated strong customer loyalty and brand affinity. This customer enthusiasm is evidenced by our high scores on surveys designed to measure customer experience of our brand and 11 consecutive years of positive comparable store traffic growth. We believe that our broad customer appeal supports significant new store growth opportunities, and we plan to continue to expand our reach to additional customers and geographies across the United States. Our stores have performed well across all economic cycles, as demonstrated by our 15 consecutive years of positive comparable store sales growth and consistent gross margins of between 30.1% and 30.8% since 2010.(1) In fact, our value proposition attracts even more customers in periods of economic uncertainty as evidenced by our average 13.5% comparable store sales growth during the recessionary economic conditions experienced in 2008 and 2009. Our model is also insulated from store labor-related variability because IOs directly employ their store workers. The result is lower corporate fixed costs, providing further protection in the event of an economic downturn. --- Following the 2014 H&F Acquisition (as defined below), we made significant infrastructure investments and have continued to grow our business, as evidenced by the following achievements since 2015: • Expanded our store count from 237 to 316 (as of December 29, 2018), a CAGR of 10.1% • Grown comparable store sales at an average annual rate of 4.2% • Increased sales from $1.6 billion to $2.3 billion, a CAGR of 12.0% • Maintained consistent gross margins of between 30.2% and 30.6% on an annual basis • Increased net income from $4.8 million to $15.9 million, a CAGR of 49.3% • Increased adjusted EBITDA from $108.2 million to $153.6 million, a CAGR of 12.4% --- Grocery Outlet Holding Corp. was incorporated in Delaware on September 11, 2014. Our principal executive offices are located at 5650 Hollis Street, Emeryville, California 94608. Our telephone number is (510) 845-1999. Our website address is www.groceryoutlet.com.
https://www.nasdaq.com/market-activity/ipos/overview?dealId=1085482-89659
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