Grocery Outlet Sees FY24 Revenue $4.3B-$4.35B Vs $4.336B Estimate
Portfolio Pulse from Benzinga Newsdesk
Grocery Outlet (GO) updates its fiscal 2024 guidance, maintaining its net sales forecast at $4.30 billion to $4.35 billion, slightly adjusting its comparable store sales growth to 3.5%-4.5%, and revising its gross margin and adjusted EBITDA downwards. The company also slightly increased its net new store openings forecast.
May 07, 2024 | 8:27 pm
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NEUTRAL IMPACT
Grocery Outlet maintains its FY24 sales forecast, increases comparable store sales growth expectations, but lowers gross margin and adjusted EBITDA projections.
Maintaining the sales forecast and increasing the comparable store sales growth projection could be seen positively by investors, indicating potential growth. However, the downward revision in gross margin and adjusted EBITDA could raise concerns about profitability and operational efficiency, potentially offsetting the positive impact of sales growth on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100