Grocery Outlet sees FY24 adjusted EPS $1.14-$1.20, consensus $1.14

Sees FY24 revenue $4.3B-$4.35B. consensus $4.32B. Sees FY24 comparable sales up 3%-4%. Sees FY24 adjusted EBITDA $275M-$283M. The company said, “As previously announced, we agreed on February 14, 2024, to acquire United Grocery Outlet (“UGO”), an extreme value, discount grocery retailer with 40 stores located in the Southeastern United States and a distribution center in Tennessee. This acquisition will expand Grocery Outlet’s store reach into the new states of Tennessee, North Carolina, Georgia, Alabama, Kentucky, and Virginia. The transaction is expected to close early in the second quarter of fiscal 2024 and remains subject to customary closing conditions.”