Grocery Outlet Holding Corp. (GO) Tops Q4 EPS by 1c

Grocery Outlet Holding Corp. (NASDAQ: GO) reported Q4 EPS of $0.24, $0.01 better than the analyst estimate of $0.23. Revenue for the quarter came in at $806.8 million versus the consensus estimate of $787.89 million.

Outlook:

• The Company currently expects to open between 36 and 38 stores this year with one closure.
• The Company anticipates that comparable sales for the first quarter will decline in the negative high-single digits reflecting the impact of cycling the initial demand surge related to the COVID-19 pandemic in March 2020.
• Excluding the impact of discrete items, the Company anticipates a normalized fiscal 2021 tax rate of 28%.
• Capital expenditures, net of tenant improvement allowances, are estimated to be approximately $130.0 million.
• As a reminder, the Company will report 52 weeks of operating results in fiscal 2021 compared to 53 weeks in fiscal 2020.

For earnings history and earnings-related data on Grocery Outlet Holding Corp. (GO) click here.

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