Grocery Outlet stock takes a dive on 'disappointing' earnings report.

Grocery Outlet's stock experienced a significant decline after the release of its Q1 earnings report, which revealed lower earnings forecasts due to disruptions in implementing new technology. The company's stock dropped over 22% from $25.98 per share to $20.16 per share. Grocery Outlet also reduced its forecast for adjusted earnings per share, comparable store sales increase, gross margin, and adjusted EBITDA. Despite positive sales results, gross margin dropped due to difficulties with technology upgrades. The company remains committed to resolving these issues and is optimistic about its long-term growth potential. [Extracted from the article]