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Grocery Outlet Reports $764 Million and Multi-Store Expansion

Grocery Outlet Reports $764 Million and Multi-Store Expansion

Friday, November 13th, 2020

Expansion is at hand for Grocery Outlet, as the retailer revealed plans for a multi-store expansion. In a recent earnings call, the company noted that it hopes to build out a comparable footprint on the East Coast.

Eric Lindberg, Chief Executive Officer, Grocery Outlet"We have made great progress this year in establishing our foundation for growth in the Mid-Atlantic region, where we plan to open approximately three to five stores next year," said Eric Lindberg, Chief Executive Officer. “We remain focused on building our pipeline to support ongoing growth in this region, and we're very encouraged by both the quality of the real estate sites we're seeing and the operator talent we're finding. While we're energized about the growth potential of the East, we will manage this expansion with the same disciplined growth we have taken in the West. Our first priority is to ensure we maintain high standards in freshness, product assortment, merchandising, cleanliness, and safety."

Lindberg commented that the company sees exciting opportunities across the Pennsylvania and New Jersey markets. The earnings call explained that Grocery Outlet currently expects to open a total of 35 stores next year with no additional closures planned for 2020. The financial results include an increase in net sales from $652.5 million to $764.1 million.

Grocery Outlet revealed plans for a multi-store expansion on the East Coast as it looks to build a comparable footprint to the one it maintains in the West

To read the financial results in full, click here. And for the earnings call transcript, click here.

Grocery Outlet's expansion will continue to unfold, so keep an eye on Deli Market News for the latest updates.

Grocery Outlet