Grocery Outlet raised $2.5 million, the equivalent of 1.25 million meals for those in need in 2022.
For the first time in the company’s 77-year history, Grocery Outlet Holding Corp. has published an Environmental, Social and Governance (ESG) Report. The report, covering fiscal year 2022, demonstrates Grocery Outlet’s mission of Touching Lives for the Better, focusing on the positive impact the company has on its communities, people and planet.
Grocery Outlet is an extreme value retailer of name-brand consumables and fresh products sold through a network of independently operated stores. Its opportunistic buying model allows it to offer products at deep discounts while reducing waste at its approximately 450 locations.
In fiscal year 2022, the company embarked on a journey to document and amplify the positive ESG benefits inherent to its business. As part of this process, Grocery Outlet developed a holistic ESG strategy that aligns with its unique model and set goals to incentivize and track its progress.
The seven key impact areas highlighted in the annual report are:
Saving Customers Money: Grocery Outlet’s discounts and bargains save customers money, an estimated 40% over conventional grocers on average. The retailer has set a goal to continue growing savings over the coming years, aiming to provide customers $3 billion annual savings by 2024.
Providing Affordable Quality Food: Grocery Outlet increases food access in its communities by providing customers with affordable quality food from trusted, name-brand suppliers and opening a portion of its stores in underserved communities. For example, in 2022 it opened a new store in Sharswood, Pa., a community that had previously been considered a food desert without local access to fresh food.
Giving Back: Grocery Outlet partners with its independent operators to give back to its communities by supporting local food banks, educational programs and other initiatives that uplift and empower those in need. The company raised $2.5 million, the equivalent of 1.25 million meals for those in need in 2022.
Providing Opportunities to Independent Operators: Grocery Outlet creates unique opportunities for independent operators to be local business owners and entrepreneurs. Fifty entrepreneurial opportunities were created in new and existing Grocery Outlet stores in 2022.
Providing Opportunities for Employees: Grocery Outlet’s focus on its values and culture, as well as its equity, diversity and inclusion initiatives, help to create opportunities for its employees to grow and thrive. Fifty-three percent of employees at director level or above are women or racial/ethnic minorities.
Reducing Food Waste: Grocery Outlet’s opportunistic sourcing model enables it to reduce food waste in partnership with its suppliers and independent operators. In addition to sourcing food that may otherwise have been discarded, Grocery Outlet’s efficient operations help reduce waste throughout the supply chain.
Improving Operational Efficiency: By improving operational efficiency, Grocery Outlet strives to reduce its environmental impacts on energy use, food waste and carbon emissions. One hundred percent of stores use an Energy Management System to gain control and visibility over energy use.
To learn more about Grocery Outlet’s ESG activities, its 2022 report is available for download online.
Grocery Outlet’s financial results for the third quarter of fiscal 2023 will be released after the market close on Nov. 7.