Shares of discount grocery store chain Grocery Outlet (NASDAQ:GO)
jumped 7.1% in the morning session after Jefferies upgraded the stock's rating from Neutral to Buy. The firm added, "We upgrade GO to BUY, given our view that the company's defensive positioning as a low-price grocer could drive outperformance during periods of economic uncertainty."
Over the past six months, Grocery Outlet’s shares (currently trading at $13.56) have posted a disappointing 19.3% loss while the S&P 500 was down 1.6%. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Retailers are adapting their business models as technology changes how people shop. Still, demand can be volatile as the industry is exposed to the ups and downs of consumer spending.
This has stirred some uncertainty lately as retail stocks have tumbled by 15.8% over the past six months. This performance was particularly disheartening since the S&P 500 held steady.
Shares of discount grocery store chain Grocery Outlet (NASDAQ:GO)
fell 29.3% in the afternoon session after the company reported weak fourth-quarter results: its EPS, EBITDA, and full-year guidance for both metrics missed. Revenue narrowly topped Wall Street estimates. However, gross margin contracted due to higher inventory shrinkage from system conversion issues.
Stay up-to-date with the latest market trends in the middle of the day on Wednesday. Explore the top gainers and losers during today's session in our detailed report.
The US market is yet to commence its session on Wednesday, but let's get a preview of the pre-market session and explore the top gainers and losers driving the early market movements.
Discount grocery store chain Grocery Outlet (NASDAQ:GO) announced better-than-expected revenue in Q4 CY2024, with sales up 10.9% year on year to $1.10 billion. The company expects the full year’s revenue to be around $4.75 billion, close to analysts’ estimates. Its non-GAAP profit of $0.15 per share was 10.3% below analysts’ consensus estimates.
The regular session of the US market on Tuesday is now over, but let's get a preview of the after-hours session and explore the top gainers and losers driving the post-market movements.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Sprouts (NASDAQ:SFM) and the best and worst performers in the non-discretionary retail industry.
