NEW YORK, May 20, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Grocery Outlet Holding Corp. (“Grocery Outlet” or the “Company”) (NASDAQ: GO) on behalf of Grocery Outlet stockholders. Our investigation concerns whether Grocery Outlet has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 7, 2024, Grocery Outlet issued a press release announcing its financial results for the first quarter of 2024. Among other items, Grocery Outlet reported non-GAAP earnings per share of $0.09, missing consensus estimates by $0.09. The Company disclosed that "[g]ross margin decreased by 180 basis points to 29.3%", stating that "the Company experienced disruptions as a result of the implementation of new technology platforms in late August 2023" and that "[s]uch disruptions are estimated to have negatively impacted gross margin by 210 basis points in the first quarter."
On this news, Grocery Outlet's stock price fell $5.02 per share, or 19.38%, to close at $20.88 per share on May 8, 2024.
If you purchased or otherwise acquired Grocery Outlet shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
