EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Wednesday reported second-quarter net income of $5.6 million.
On a per-share basis, the Emeryville, California-based company said it had profit of 6 cents. Earnings, adjusted for one-time gains and costs, were 20 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $1.19 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $1.17 billion.
Grocery Outlet expects full-year earnings in the range of 51 cents to 55 cents per share, with revenue in the range of $4.7 billion to $4.72 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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