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Grocery Outlet Holding Corp. Updates FY24 EPS Guidance From $0.89-$0.95 To $0.77-$0.80 Vs $0.88 Est.; Revenue From $4.30B-$4.35B To Slightly Above $4.35B Vs $4.37B Est.

Benzinga ·  05:04

Outlook:

The Company is updating key guidance figures for fiscal 2024 as follows:

PreviousCurrent
New store openings, net(2)62 to 6466
Net sales$4.30 billion to $4.35 billionslightly above $4.35 billion
Comparable store sales increase~3.5%~2.4%
Gross margin~30.5%~30.4%
Adjusted EBITDA(1)$252 million to $260 million$237 million to $242 million
Adjusted diluted earnings per share(1)$0.89 to $0.95$0.77 to $0.80
Capital expenditures (net of tenant improvement allowances)~$200 million~$200 million
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