Grocery Outlet Holding Corp. (GO) stock plummeted 18.52% in the after-market trading session at the price of $27.64 after it announced participation at Morgan Stanley’s Virtual Global Consumer & Retail Conference. The Grocery Outlet, a California-based firm, is a leading retailer that sells name-brand consumables and fresh products through a network of individually operated markets.
Morgan Stanley’s Virtual Global Consumer & Retail Conference
On 18th November 2021, GO stock published that it will participate in an online fireside chat at Morgan Stanley’s Virtual Global Consumer & Retail Conference. The conference will be on 2nd December 2021, Thursday, at 2:25 PM Eastern Time. Eric Lindberg, Chief Executive Officer, and other management officials will be the attendees. The presentation will be available on the website for 30 days following the presentation.
GO Stock: Q3 Fiscal 2021 Financial Results
On 9th November 2021, GO stock published its financial results for the third fiscal quarter ended 2nd October 2021 and presented business updates.
GO Stock: Third Quarter Results
For the third quarter of fiscal 2021, GO stock reported net sales of $768.9 million, a 0.6% gain from the same three months of fiscal 2020. Comparable store sales in the third quarter of fiscal 2021 declined by 4.3% from the third quarter of fiscal 2020. Net income totaled $17.1 million, or per diluted share of $0.17, for the third quarter ended 2nd October 2021. It represents a drop of 57.7% compared to the three months ended 2nd October 2020. For the third quarter of fiscal 2021, adjusted EBITDA was $51.4 million. It represents a 6.2% decline from the third quarter of fiscal 2020.
GO stock reported an adjusted net income of $23.4 million, or per diluted share of $0.24, for the third quarter of fiscal 2021. It represents a drop of 15.3% compared to the third quarter of fiscal 2020. On 2nd October 2021, cash and cash equivalents totaled $156.0 million. The company calculated $450.9 million in debt at the end of the third quarter of fiscal 2021. Net cash from operating activities totaled $56.6 million during the third quarter of fiscal 2021.
