An expanding grocery store franchise is set to open a new location in east Vancouver.
Grocery Outlet, which has three locations in Clark County, will open a new store at 11714 N.E. Fourth Plain Blvd., in a strip mall that is under renovation. The building formerly housed the Salvation Army Family Store & Donation Center that closed in January.
The store will open sometime in the middle of 2021, according to Carlos Rodriguez-Vega, co-owner of the Grocery Outlet at 5800 N.E. Fourth Plain Blvd. Vega said the new Grocery Outlet is owned by a different operator.
More details about the grocery store were not immediately available from corporate headquarters.
Emeryville, Calif.-based Grocery Outlet has more than 350 stores in the U.S., selling discounted, overstocked and closeout name-brand and private-label products, according to the company’s website.
The website says that its annual revenue increased from $500 million in 2001 to more than $2.5 billion in 2019, and it plans to expand by opening more stores in the U.S.
“It’s no secret that we have plans to expand aggressively throughout our current footprint in five Western states (CA, OR, WA, ID, NV) and the Mid-Atlantic region,” the website stated.
A Tuesday financial performance report from the publicly traded Grocery Outlet Holding Corp. said net sales increased in the fiscal quarter ending June 27 by 24.5 percent to $803.4 million from $645.3 million a year earlier.
“Approximately one year ago today, we conducted our first earnings call as a public company. We’re very pleased to have delivered strong and consistent financial performance since our IPO,” Lindberg told analysts in a conference call, reported by supermarketnews.com. “We’re equally proud of our ability to navigate the unprecedented challenges and opportunities presented by COVID-19 in recent months.”
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