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Story summary
- Grocery Outlet, a California supermarket chain, plans to close 36 underperforming stores nationwide to boost profitability.
- CEO Jason Potter said the closures follow a challenging 2025 fourth quarter due to competition and delayed federal benefits.
- Fiscal 2025 net sales rose 7.3% to $4.69 billion.
- In the fourth quarter, operating income was negative $234.8 million and net income was negative $218.2 million.
