EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Tuesday reported a loss of $23.3 million in its first quarter.
The Emeryville, California-based company said it had a loss of 24 cents per share. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $1.13 billion in the period, matching Street forecasts.
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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