Shares of discount grocery store chain Grocery Outlet (NASDAQ:GO) fell 23.9% in the morning session after the company reported first-quarter earnings results. Adjusted EBITDA missed by a meaningful amount, and the company's full-year earnings forecast missed analysts' expectations. The company also called out systems conversion issues, which negatively impacted profit. On the other hand, Grocery Outlet beat analysts' revenue expectations during the quarter, driven by an increase in transaction c
GO vs. OLLI: Which Stock Is the Better Value Option?
Grocery Outlet's (GO) first-quarter results reflect a comparable store sales increase of 3.9%. Management anticipates comparable store sales growth of 3.5-4.5% for 2024.