Resend-BUZZ-Grocery Outlet shares plummet after lowering fiscal year earnings forecast

Corrected the grammatical error in the title

November 11 - ** Discount retailer Grocery Outlet Holding (GO.O) shares fell 10% in early trading, to $12.67

** If the decline continues, GO will post its biggest one-day drop since March

** The company lowered the upper end of its annual adjusted EBITDA forecast range from the previous $225 million to $235 million to $225 million to $229 million

** Roth Capital said rising store repair and maintenance costs are eroding profits, offsetting gains from increased foot traffic and improved gross margins

** GO reported third-quarter revenue of $1.18 billion, slightly above the analyst consensus estimate of $1.17 billion compiled by LSEG

** The company expects adjusted earnings per share of $0.16, slightly ahead of the market expectation of $0.15

** Of the 14 brokerages, 1 has a "buy" rating, 12 have a "hold" rating, and 1 has a "sell" rating; the median target price is $12 — data compiled by LSEG

** GO’s current price/earnings ratio is 21.03 times (based on expected earnings per share over the next 12 months), much higher than the sector median of 18 times

** Even accounting for today's decline, GO shares are still up more than 25% year-to-date

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