Grocery Outlet Holding Co.’s sales topped $1 billion in the fourth quarter, slightly above Wall Street expectations, but weaker quarterly profits and 2025 guidance dragged the stock down more than 12% late Tuesday.

Greetings, and welcome to the Grocery Outlet Q4 and full year 2024 earnings results conference call. [Operator instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce you to your host,

Grocery Outlet began to initiate a restructuring plan that it hopes will improve long-term profitability and cash flow generation, while also optimizing the footprint of new store growth and lowering its cost base.

Discount grocery store chain Grocery Outlet (NASDAQ:GO) announced in Q4 CY2024, with sales up 10.9% year on year to $1.10 billion. The company expects the full year’s revenue to be around $4.75 billion,