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Market Daily Report: Bursa Malaysia's Key Index Ends At Intraday High

KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
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Grocery Outlet Stock Drops Over 10% After Q4 EPS Miss, Weak 2025 Outlook & Job Cuts

 Key Financial Highlights

  • Q4 adjusted EPS: $0.15 (missed estimates of $0.17)
  • Revenue: $1.098 billion (beat expectations of $1.086 billion)
  • 2025 Guidance:
    • Adjusted EPS: $0.70-$0.75 (below analyst estimate of $0.94)
    • Revenue: $4.7B-$4.8B (vs. analyst forecast of $4.73B)

Restructuring Plan & Job Cuts

  • Company announced job cuts, canceled warehouse projects, and terminated leases for stores in "suboptimal" locations.
  • The goal is to streamline operations and position the company for long-term growth.

Market Reaction

  • Stock plunged 13.3% after hours to $13.65 as investors reacted to the earnings miss and cautious outlook.

CEO's Take

  • Chairman Eric Lindberg emphasized that despite setbacks, the company is focused on key strategic initiativesto strengthen its foundation and support future growth.

Summary:

  • Q4 EPS miss and weak 2025 guidance triggered a 10%+ drop in Grocery Outlet stock.
  • Restructuring efforts include job cuts and canceled store expansions to optimize operations.
  • Investors remain cautious as management adjusts its growth strategy.
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