Grocery Outlet announced last week that it reached the $1 billion mark in net sales for the company’s third quarter, which represents a 9.3% increase compared to the same period a year ago. In addition, comparable store sales increased 6.4%, while Grocery Outlet’s gross margin increased by 31.4%.
The discount retailer, which opened eight stores during the third quarter, is projecting net sales of nearly $4 billion for 2023.