EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Tuesday reported fourth-quarter earnings of $2.3 million.
On a per-share basis, the Emeryville, California-based company said it had profit of 2 cents. Earnings, adjusted for one-time gains and costs, came to 15 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $1.1 billion in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.09 billion.
For the year, the company reported profit of $39.5 million, or 40 cents per share. Revenue was reported as $4.37 billion.
Grocery Outlet expects full-year earnings in the range of 70 cents to 75 cents per share, with revenue in the range of $4.7 billion to $4.8 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
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