Grocery Outlet Holding Corp. Announces Third Quarter Fiscal 2026 Financial Results

EMERYVILLE, Calif., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Grocery Outlet Holding Corp. (NASDAQ: GO) ("Grocery Outlet," the "Company," "we" or "our") today announced financial results for the third quarter of fiscal 2026 ended October 3, 2026.

Highlights for Third Quarter Fiscal 2026 as compared to the Prior Year Period: * Net sales increased by 0.9% to $1.18 billion. * Comparable store sales increased by 0.5%. * Gross margin was 30.0% compared to 30.4% last year. * Operating income was $24.0 million, which included $3.6 million in net restructuring credits. * Net income was $13.3 million, or $0.13 per diluted share, compared to $11.6 million, or $0.12 per diluted share last year. Adjusted net income((1)) was $15.6 million, or $0.16 diluted adjusted earnings per share((1)), compared to $20.7 million, or $0.21 diluted adjusted earnings per share((1)) last year. * Adjusted EBITDA((1)) was $59.4 million, representing 5.0% of net sales. Highlights for the 39 Weeks Ended October 3, 2026 as compared to the Prior Year Period: * Net sales increased by 1.8% to $3.54 billion. * Comparable store sales declined by 0.2%. * Gross margin was 29.9% compared to 30.5% last year. * Operating loss was $138.2 million, which included $158.0 million in non-cash goodwill impairment and $20.1 million in net restructuring charges. * Net loss was $161.4 million, or $(1.63) per diluted share, compared to net loss of $6.8 million, or $(0.07) per diluted share last year. Adjusted net income((1)) was $40.5 million, or $0.41 diluted adjusted earnings per share((1)), compared to $56.5 million, or $0.57 diluted adjusted earnings per share((1)) last year. * Adjusted EBITDA((1)) was $168.2 million, representing 4.8% of net sales. “In the third quarter we returned to positive comparable store sales, driven by continued improvements to the execution of our opportunistic product offering,” said Jason Potter, President and CEO of Grocery Outlet. “Traffic accelerated and basket trends again improved sequentially as we enhanced our value proposition. In partnership with our operators and suppliers, we will continue to build on this progress with a focus on driving sustainable sales growth and improved profitability over time. This stronger foundation increases our confidence in our long-term opportunity.”