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Grocery Outlet Fiscal Q1 Earnings, Sales Drop; Sets FY21 Capital Spending Outlook

05/11/2021 12:49

04:35 PM EDT, 05/11/2021 (MT Newswires) -- Grocery Outlet (GO) late Tuesday reported fiscal Q1 non-GAAP earnings of $0.23 per diluted share, down from $0.30 a year prior but ahead of the $0.22 average analyst EPS estimate in a Capital IQ survey.

Net sales for the quarter ended April 3 fell to $752.5 million from $760.3 million in the year-ago period. Analysts surveyed by Capital IQ expected $757.2 million on average.

The supermarket company said it expects capital expenditures of about $130 million for fiscal 2021.

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