: Grocery Outlet’s stock is on the rise after a $1 billion quarter


Shares of Grocery Outlet Holding Corp. GO, -0.21% advanced 5% in extended trading Tuesday after the retail chain reported quarterly results that topped analyst revenue and earnings estimates. Grocery Outlet reported fiscal second-quarter net income of $24.5 million, or 24 cents a share, compared with net income of $20.1 million, or 20 cents a share, in the year-ago quarter. Adjusted earnings were 26 cents a share. Net sales were $1 billion, compared with $897.7 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 32 cents a share on revenue of $980.2 million. Shares of Grocery Outlet are up 13.5% this year, while the broader S&P 500 index SPX, -0.42% has improved 17%.

This article was originally published by Marketwatch.com. Read the original article here.

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