Grocery Outlet Holding Corp

In addition to the other information set forth in this Quarterly Report on Form 10-Q, our business, financial condition and operating results can be affected by a number of factors, whether currently known or unknown, including but not limited to those described in Part I, Item 1A of our 2023 Form 10-K under the heading "Risk Factors," any one or more of which could, directly or indirectly, cause our actual financial condition and operating results to vary materially from past, or from anticipated future, financial condition and operating results. Any of these factors, in whole or in part, could materially and adversely affect our business, financial condition, operating results and stock price. There have been no material changes to our risk factors since the 2023 Form 10-K, other than as set forth below.

Risks Related to Our Operations

Our success depends in part on our executive officers and other key personnel.

We believe that our success depends to a significant extent on the skills, experience and efforts of our executive officers and other key personnel. Due to the uniqueness of our model, the unexpected loss of services of any of our executive officers or other key personnel could have a material adverse effect on our business and operations. In March 2024, our then Chief Financial Officer departed to pursue another opportunity and we have not yet been able to secure a permanent replacement. In late October 2024, our President and Chief Executive Officer stepped down and our Chairman of the Board of Directors was appointed Interim President and Chief Executive Officer. We have engaged a search firm to identify candidates to serve in these roles. There can be no assurance that our executive search process or succession planning for other officer roles, retention or hiring efforts will be successful. Competition for skilled and experienced management in our industry is intense, and we may not be successful in attracting and retaining qualified personnel. We do not maintain key person insurance on any of our key personnel.