NASDAQ$GO
Grocery Outlet Holding Corp · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Announced second quarter fiscal 2020 financial results, with net sales increasing by 24.5% and comparable store sales increasing by 16.7%.
Grocery Outlet reported a strong second quarter in fiscal 2020, marked by a 24.5% increase in net sales, reaching $803.4 million, and a 16.7% increase in comparable store sales. Net income increased significantly by $40.0 million to $29.3 million. The company opened 7 new stores, expanding its network to 362 stores across six states.
- Net sales increased by 24.5% to $803.4 million compared to the second quarter of fiscal 2019.
- Comparable store sales increased by 16.7% compared to a 5.8% increase in the same period last year.
- The company opened 7 new stores, ending the quarter with 362 stores in six states.
- Net income increased $40.0 million to $29.3 million, or $0.30 per diluted share.
Headline financials
Revenue & EPS history
Grocery Outlet · Revenue · Quarterly
$803M
Forward guidance
Grocery Outlet anticipates opening between 30 and 32 stores this year and expects comparable store sales growth to moderate as the economy reopens. Quarter-to-date comparable store sales growth is tracking at approximately 10%. The company anticipates a normalized tax rate of 28% and a weighted average diluted share count of approximately 100 million shares for fiscal 2020.
Tailwinds
- Expects to open between 30 and 32 stores this year.
- Continues to build its real estate pipeline to support 10% annual unit growth.
- Quarter-to-date comparable store sales growth is tracking at approximately 10%.
- Anticipates a normalized tax rate of 28%.
- Weighted average diluted share count is expected to be approximately 100 million shares for fiscal 2020.
Headwinds
- Not providing formal 2020 earnings guidance at this time due to the uncertainty related to COVID-19.
- Comparable store sales growth will continue to moderate as the economy reopens.
- Quarter-to-date comparable store sales growth is partially offset by declines in store traffic.
- Uncertainty related to COVID-19.
- Economy reopening.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2020
-1.9%
Avg return
Earnings day
-0.2%
Avg return
5 days after
-2.6%
Avg return
30 days after
53%
17 / 32 earnings
Positive
+13.4%
Q3 2021
Best reaction
-30.2%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.5% | -4.7% | +20.4% | |
| Q4 2025 | -28.1% | -28.1% | -17.9% | |
| Q3 2025 | -8.1% | -18.2% | -20.0% | |
| Q1 2025 | -6.3% | -13.2% | -16.2% | |
| Q4 2024 | -30.2% | -28.0% | -15.8% | |
| Q3 2024 | +11.8% | +23.5% | +30.3% | |
| Q2 2024 | +7.4% | +7.2% | -7.0% | |
| Q1 2024 | -19.1% | -19.1% | -17.2% | |
| Q4 2023 | +0.6% | +1.5% | +10.7% | |
| Q3 2023 | -4.0% | -2.9% | +4.5% | |
| Q2 2023 | +4.2% | +3.4% | -8.9% | |
| Q1 2023 | +4.4% | +0.8% | -6.0% | |
| Q4 2022 | -4.4% | -0.2% | +2.1% | |
| Q3 2022 | -5.6% | -8.9% | -12.8% | |
| Q2 2022 | -7.2% | -10.7% | -16.7% | |
| Q1 2022 | +10.5% | +14.5% | +14.6% | |
| Q4 2021 | -2.1% | +5.4% | +17.9% | |
| Q3 2021 | +13.4% | +21.1% | +19.9% | |
| Q2 2021 | -12.4% | -15.4% | -20.9% | |
| Q1 2021 | -19.9% | -15.8% | -17.7% | |
| Q3 2020 | -2.4% | -6.8% | -8.6% | |
| Q2 2020 | -5.2% | -4.8% | -12.5% | |
| Q1 2019 | +0.6% | +2.3% | -9.6% | |
| Q1 2020 | +2.1% | +2.2% | -7.5% | |
| Q4 2018 | +6.7% | +1.8% | +5.1% | |
| Q4 2017 | +6.7% | +1.8% | +5.1% | |
| Q4 2019 | +6.3% | +7.4% | +7.7% | |
| Q3 2018 | +1.9% | +1.8% | -1.7% | |
| Q3 2019 | +4.8% | +1.4% | +2.7% | |
| Q2 2019 | +5.2% | +24.2% | -1.8% | |
| Q2 2018 | +5.2% | +24.2% | -1.8% | |
| Q1 2018 | +5.2% | +24.2% | -1.8% |
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