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Why Grocery Outlet Stock Plunged Today

·1 min read
Why Grocery Outlet Stock Plunged Today
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Shares of Grocery Outlet (NASDAQ: GO) fell 18.5% Wednesday following the release of the discount supermarket chain's first-quarter results. Grocery Outlet's net sales decreased by 1% to $752.5 million, driven by an 8.2% decline in comparable-store sales. Grocery Outlet's stock price crashed Wednesday.