TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
EMERYVILLE, CA—Luke D Thompson, Executive Vice President, General Counsel, and Secretary of Grocery Outlet Holding Corp. (NASDAQ:GO), recently sold a portion of his holdings in the company. The transaction comes as the stock has declined 26% year-to-date, with the company currently valued at $1.13 billion. According to a Form 4 filing with the Securities and Exchange Commission, Thompson sold 3,614 shares of common stock on March 4, 2025, at a price of $11.34 per share. The total value of the transaction amounted to $40,982.
Following this transaction, Thompson retains ownership of 32,300 shares in the company. The sale was executed to satisfy tax withholding obligations upon the vesting of Restricted Stock Units (RSUs) previously granted to Thompson.
In other recent news, Grocery Outlet Holding Corp reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) at $0.15, compared to the forecasted $0.17. However, revenue exceeded expectations, reaching $1.1 billion against a forecast of $1.09 billion. The company also experienced a positive comparable store sales increase of 2.9%. Despite these positive sales figures, Grocery Outlet’s profitability was impacted by higher inventory shrinkage and ongoing system integration issues. Analysts from Craig-Hallum, Telsey Advisory Group, and DA Davidson have all adjusted their price targets for the company, citing concerns over profitability and operational challenges. Craig-Hallum reduced its price target to $13.50, Telsey to $16.00, and DA Davidson to $15.00, each maintaining a hold or neutral rating on the stock. Management has outlined a restructuring plan that includes store closures and workforce reductions, which are expected to affect profitability in the short term but aim to enhance long-term returns. The company is also focusing on improving inventory management and addressing system challenges to stabilize operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.