Grocery Outlet falls; CEO to step down
Updates
** Shares of Grocery Outlet GO.O down ~8% at $15.16
** Says CEO RJ Sheedy steps down as CEO after almost 2 years in the role
** Former CEO Eric Lindberg to be interim CEO, board to begin process of identifying a permanent CEO
** GO expects preliminary Q3 net sales of $1.1 bln vs analysts' estimates of $1.09 bln - LSEG data
** Brokerage DA Davidson says this is an opportunity to steady the business as Sheedy's tenure has been a "bit rocky", with several misses
** Co to announce Q3 results on Nov. 5
** Up to Tuesday's close, stock had fallen ~38% YTD
Reporting by Neil J Kanatt in Bengaluru
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