Grocery Outlet falls after annual sales forecast cut, Q3 sales miss

Shares of discount retailer Grocery Outlet GO.O down 12.6% at $12.38 premarket

Co lowers FY comparable store sales forecast and posts Q3 sales below estimates after market close on Tuesday

Sees annual comparable sales increasing between 0.6% and 0.9% vs. prior 1% to 2% growth forecast

Posts Q3 sales of $1.17 billion vs. estimates of $1.18- data compiled by LSEG

However, adjusted EPS of 21 cents beats estimates of 19 cents, driven by favorable tax rate

The annual forecast cut underscore ongoing tariff headwinds, brokerage Jefferies says, seeing limited near-term upside till store refresh actions, operational improvements gain broader traction

Average rating of 13 analysts is "hold"; with a median PT of $16 - data compiled by LSEG

Up to last close, stock had fallen 9.2% YTD