Grocery outlet holding corp. provides preliminary consolidated earnings guidance for the thirteen weeks ended september 28, 2019

Grocery outlet holding corp. provided preliminary consolidated earnings guidance for the thirteen weeks ended september 28, 2019. the company expects to report net sales for the thirteen weeks ended september 28, 2019 of $652.5 million compared to $576.8 million for the thirteen weeks ended september 29, 2018, an increase of $75.7 million or 13.1%. the increase in net sales for the thirteen weeks ended september 28, 2019 compared to the same period of 2018 is primarily due to non-comparable store sales growth attributable to the net 30 stores opened over the last 12 months as well as an increase in comparable store sales. company expects to report that comparable store sales increased 5.8% for the thirteen weeks ended september 28, 2019 compared to the same period of 2018 driven by increases in both the number of customer transactions and average transaction size. company estimates that net income for the thirteen weeks ended september 28, 2019 will be between $8.9 million and $9.6 million, compared to $7.7 million for the thirteen weeks ended september 29, 2018, an increase of $1.6 million or 21.1%, calculated using the midpoint of the range.
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