EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Tuesday reported a loss of $10.6 million in its second quarter.
On a per-share basis, the Emeryville, California-based company said it had a loss of 15 cents. Earnings, adjusted for one-time gains and costs, came to 20 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $645.3 million in the period.
Grocery Outlet expects full-year earnings in the range of 68 cents to 71 cents per share, with revenue in the range of $2.5 billion to $2.53 billion.