GROCERY OUTLET HOLDING Reports Q2 FY2023 Earnings Results for August 8 2023

August 27, 2023

🌥️Earnings Overview

GROCERY OUTLET HOLDING ($NASDAQ:GO) reported total revenue of USD 1010.3 million for the second quarter of FY2023, ending on August 8 2023 – an increase of 12.5% compared to the same quarter the year before. Their net income was USD 24.5 million for the period, a 21.8% rise year-on-year. This report was released on June 30 2023.

Market Price

On Tuesday, GROCERY OUTLET HOLDING reported financial results for the second quarter of FY2023, ended August 8th 2023. The company’s stock opened at $33.2 and closed at $33.1, down 0.2% from the prior closing price of $33.2. The reported earnings were lower than expected due to ongoing challenges in the retail sector. Despite the lower than expected earnings, GROCERY OUTLET HOLDING remain optimistic that they will be able to improve their financial results as the year progresses. The company’s management noted that they are actively investing in digital transformation initiatives to enhance customer experience and reduce operational costs.

Furthermore, they have implemented several cost-cutting measures to reduce expenses such as renegotiating vendor contracts and implementing energy-efficient technologies. GROCERY OUTLET HOLDING’s outlook for the remainder of the fiscal year looks promising, as the company continues to focus on streamlining operations and improving customer satisfaction. With a strong emphasis on digitalization, GROCERY OUTLET HOLDING is well-positioned to take advantage of the growing online retail market and capitalize on the opportunities it presents. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for GO. More…

    Total Revenues Net Income Net Margin
    3.82k 71.58 2.0%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for GO. More…

    Operations Investing Financing
    257.9 -162.64 -91.96
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for GO. More…

    Total Assets Total Liabilities Book Value Per Share
    2.82k 1.66k 11.79
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for GO are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    10.0% 9.4% 3.0%
    FCF Margin ROE ROA
    2.5% 6.3% 2.6%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale has conducted an analysis of GROCERY OUTLET HOLDING’s fundamentals and concluded that it is a ‘gorilla’ company, indicating that it has achieved stable and high revenue or earning growth due to its strong competitive advantage. Moreover, GROCERY OUTLET HOLDING has a high health score of 8/10, which means that it is capable of paying off debt and funding future operations. Furthermore, from our assessment, it is strong in growth, medium in profitability, and weak in asset and dividend. Given these positive results, GROCERY OUTLET HOLDING is an attractive company for investors looking for a stable and high revenue or earning growth. It is also desirable for those who seek strong financial stability. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    The company was founded in 1946 and is headquartered in Emeryville, California. Grocery Outlet Holding Corp operates through two segments: Grocery Outlet and Bargain Market. The Grocery Outlet segment offers a variety of food and household products at discounts of up to 50% off traditional grocery store prices. The Bargain Market segment offers a selection of closeout, overstocked, and irregular merchandise at discounts of up to 70% off traditional retail prices. The company competes with Veroni Brands Corp, The Kroger Co, and Ollie’s Bargain Outlet Holdings Inc.

    – Veroni Brands Corp ($OTCPK:VONI)

    As of 2022, Veroni Brands Corp has a market cap of 47.4M. The company’s return on equity is 98.41%. Veroni Brands Corp is a food and beverage company that manufactures and markets a variety of food and beverage products. The company’s products include pasta, sauces, snacks, and desserts. Veroni Brands Corp is headquartered in New York, New York.

    – The Kroger Co ($NYSE:KR)

    The Kroger Co has a market cap of 33.33B as of 2022, a Return on Equity of 23.61%. The company is a leading grocery store chain in the United States with over 2,800 stores in 35 states. The company offers a wide variety of products and services including grocery, health and beauty, and general merchandise. Kroger also has a strong online presence with a website and mobile app that offer convenient shopping options for customers.

    – Ollie’s Bargain Outlet Holdings Inc ($NASDAQ:OLLI)

    Ollie’s Bargain Outlet Holdings Inc is a publicly traded company with a market cap of 3.37B as of 2022. The company operates a chain of closeout retail stores in the United States. As of February 2021, the company operated 259 stores in 27 states. The company was founded in 1982 and is headquartered in Harrisburg, Pennsylvania.


    GROCERY OUTLET HOLDING reported strong second quarter results ending August 8 2023, with total revenue increasing 12.5% year-over-year to USD 1010.3 million and net income rising 21.8% to USD 24.5 million. This impressive performance reflects the company’s success in the current market and indicates that investing in GROCERY OUTLET HOLDING may prove to be a rewarding opportunity. The company’s strong financials, combined with its successful strategy and commitment to continuous improvement, suggest that the stock will continue to deliver returns to investors in the future.

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