Grocery Outlet: Q4 Earnings Snapshot
EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Wednesday reported a loss of $218.2 million in its fourth quarter.
The Emeryville, California-based company said it had a loss of $2.22 per share. Earnings, adjusted for one-time gains and costs, were 19 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $1.22 billion in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $1.24 billion.
For the year, the company reported a loss of $224.9 million, or $2.30 per share. Revenue was reported as $4.69 billion.
Grocery Outlet expects full-year earnings in the range of 45 cents to 55 cents per share, with revenue in the range of $4.6 billion to $4.72 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GO at https://www.zacks.com/ap/GO