Grocery Outlet Holding Corp. (GO)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Grocery Outlet Holding Corp. (“Grocery Outlet” or “the Company”) (NASDAQ: GO). Investors who purchased Grocery Outlet securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Grocery Outlet has violated federal securities laws.
Investigation Details:
On May 7, 2024, Grocery Outlet issued a press release announcing its financial results for the first quarter of 2024. Among other items, Grocery Outlet reported non-GAAP earnings per share of $0.09, missing consensus estimates by $0.09. The Company disclosed that “[g]ross margin decreased by 180 basis points to 29.3%”, stating that “the Company experienced disruptions as a result of the implementation of new technology platforms in late August 2023” and that “[s]uch disruptions are estimated to have negatively impacted gross margin by 210 basis points in the first quarter.” On this news, Grocery Outlet’s stock price fell $5.02 per share, or 19.38%, to close at $20.88 on May 8, 2024.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Grocery Outlet securities, you can assist this investigation. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller,