Grocery Outlet Holding Corp. (NASDAQ:GO) Q2 2024 Earnings Conference Call August 6, 2024 4:30 PM ET

Company Participants

Christine Chen - Head of Investor Relations
RJ Sheedy - President and Chief Executive Officer
Lindsay Gray - Interim Chief Financial Officer and Senior Vice President, Accounting

Conference Call Participants

Krisztina Katai - Deutsche Bank
Oliver Chen - TD Cowen
Robert Ohmes - Bank of America
Corey Tarlowe - Jefferies
Joseph Feldman - Telsey Advisory
John Heinbockel - Guggenheim
Mark Carden - UBS
Anthony Bonadio - Wells Fargo
Simeon Gutman - Morgan Stanley
Michael Baker - D.A. Davidson
Jeremy Hamblin - Craig-Hallum

Operator

Greetings and welcome to Grocery Outlet Fiscal Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Christine Chen. Thank you. You may begin.

Christine Chen

Good afternoon and welcome to Grocery Outlet's call to discuss financial results for the second quarter for the period ending June 29th, 2024. Speaking from management on today's call will be RJ Sheedy, President and Chief Executive Officer; and Lindsay Gray, Interim Chief Financial Officer and SVP of Accounting. Following prepared remarks from RJ and Lindsay, we will open the call for questions.

Please note that this conference call is being webcast live and a recording will be available via telephone playback on the investor relations section of the company's website. Participants on this call may make forward-looking statements within the meaning of the Federal Securities Laws.

All statements that address future operating, financial or business performance or the company's strategies or expectations are forward-looking statements. These forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from these statements.

A description of these factors can be found in this afternoon's press release as well as the company's periodic reports filed with the SEC, all of which may be found on the investor relations section of the company's website or on sec.gov.

And now I will turn it over to RJ.

RJ Sheedy

Good afternoon, everyone, and thank you for joining us. We are pleased with our second quarter performance with gross margins and earnings coming in better-than-expected. Strong customer count continued throughout the quarter even though comp store sales softened in late June finishing slightly below our expectations.