Trending...
- Trump Administration Accused of Burying Filmed Musical on Streaming Platforms
- ScreenPoints Puts Film Investors in the Credits—and in the Money With New FinTech Platform
- LAFCO Expands Partnership with Listrak to Power Personalized Cross-Channel Customer Communications
NEW YORK, May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Grocery Outlet Holding Corp. ("Grocery Outlet" or the "Company") (NASDAQ: GO). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Grocery Outlet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
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."
More on Nyenta.com
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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
The investigation concerns whether Grocery Outlet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
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."
More on Nyenta.com
- TI CEO Haviv Ilan to speak at Bernstein investor conference
- Hypercard Announces Partnership with Priority Pass to Enhance Corporate Travel Experience
- Broadway Bubble Laundromat Debuts New Washers at 3rd Birthday Party
- WWSG Announces Exclusive Speaking Partnership with Patrick McGee, Author of 'Apple in China'
- Multi-Billion Dollar Drone Cleaning Market Addressed via New UAE Office, AI Drone and Quantum Computing Solutions in Varied Industries ZenaTech, Inc
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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
Filed Under: Business
0 Comments
Latest on Nyenta.com
- MWI, Inc. Achieves CMMC Level 1 Compliance
- Plan Signed to Purchase Kadima Neuropsychiatry Institute as Clinical Treatment Model and Leading Investigative Site Addressing Suicidal Depression
- The Inner Circle acknowledges, Timothy L. Hogue as a Pinnacle Professional Member
- Tribeca Film Festival Official Podcast Selection Lead Features Hollywood Stars, Focuses On Ending Childhood Lead Poisoning In New York!
- Industrial Parts Fittings Champions the Revival of American Manufacturing
- BizGuru.ai Launches AI-Powered Business Planning Platform for Entrepreneurs and Startups
- Book Empowers Families to Plan Smart and Retire Strong Without Losing It All to Long-Term Care Costs
- $34 Billion Market in 2025 Advancing to $45 Billion in 2026 for Phase III Development of New Blood Thinner, Less Problematic Than Warfrain: $CVKD
- Pikmykid Launches $100,000 School Safety Grant Giveaway to Support K–12 Schools Across the U.S
- NUTRISH™ ENTERS A NEW ERA WITH RENEWED FOCUS ON PURPOSEFUL NUTRITION AND INCREASING PET PARENT CONFIDENCE
- Slotozilla Data Report: Unveiling 2024's Gaming Statistics
- Theravance Biopharma to Participate in an Upcoming Investor Conference
- BK Flooring Releases Their Top Reasons to Upgrade Kitchen Tile Flooring in 2025
- The OpenSSL Corporation and the OpenSSL Foundation Certify Results of Technical Advisory Committee Elections
- ROME-ANTICS Unleashed: A Music Video by Sidow Sobrino Transforms Rome into a Living Stage
- PatientRightsAdvocate.org Launches New York City Hospital Price Finder
- Mother's Day Wake-Up Call for Maternal Health: New Initiative Demands Better Postpartum Support
- All-City Soccer New York City Revolutionizes Youth Soccer Training with a Curriculum-Based Approach
- Renowned Glass Artist Abby Modell Unveils New Collection at Lorin Marsh during NYCxDESIGN Week
- Southbox Entertainment, FinTech Pioneer & Entrepreneur Jon Gosier Join Psychological Thriller The Dutchman as Financing Partner