Grocery Outlet Names New CEO
Grocery Outlet Holding Corp. has appointed Jason Potter the company’s president and CEO, effective Feb. 3. Potter will also join the company’s board of directors.
Potter is a seasoned CEO, bringing more than 30 years of grocery retail experience and a track record of driving earnings growth and shareholder value. He joins Grocery Outlet from The Fresh Market, a specialty grocery retailer of fresh, gourmet food and prepared meals, where he has been CEO and a board member since March 2020. During his tenure, Potter led the successful transformation of that business, driving an award-winning customer experience and strong earnings growth.
Prior to Fresh Market, Potter spent 26 years with Sobeys Inc., a national grocery retailer in Canada, where he oversaw a store base of more than 1,500 stores under several banners with more than $12 billion in revenues. During his tenure with Sobeys, he held a variety of operational and leadership roles, including EVP of operations, president of Sobeys West, president of Sobeys Atlantic and president of multi-format operations.
“I could not be more excited to join Grocery Outlet,” Potter said. “With a clear mission of saving people money and a unique model that combines national buying power with local independent operators for the ultimate treasure-hunt shopping experience, Grocery Outlet is a differentiated concept with a tremendous growth opportunity. I understand what it takes to lead and scale this business and look forward to working with the team and our local independent operators to reach Grocery Outlet’s full potential.”
Potter will succeed Eric J. Lindberg Jr., who has been interim president and CEO since October 2024, after R.J. Sheedy stepped away from the position and resigned from the company’s board of directors. Lindberg is also chairman of the board and will continue in that capacity after Potter joins the company. Lindberg will work closely with Potter during a transition period, including meeting independent operators and key suppliers and integrating him into the unique culture of the business.
“On behalf of the board, we are thrilled to have Jason lead Grocery Outlet’s next chapter of continued growth and success,” said Lindberg. “In addition to his deep experience in growing and scaling successful grocery models, Jason’s vision, values and hands-on leadership style align well with our goals and culture. His passion and drive will prove to be an excellent fit here at Grocery Outlet. I am confident Jason is going to be a fantastic leader with our team and independent operators, and I welcome him warmly to the Grocery Outlet family.”
Grocery Outlet’s net sales increased 10.4% to $1.11 billion during the third quarter ended Sept. 28, due to new store sales and a 1.2% increase in comparable-store sales, which represents 7.6% comp growth on a two-year basis. Adjusted EBITDA rose by 6.0% to $72.3 million, or 6.5% of net sales, but adjusted net income dropped by 10.1% to $27.9 million, or 28 cents per adjusted diluted share. The value retailer recently revealed plans to expand its footprint in Ohio with a trio of openings in the northeast corner of the Buckeye State.
Emeryville, Calif.-based Grocery Outlet offers products sold through a network of independently operated stores at more than 520 locations in California, Washington, Oregon, Pennsylvania, Tennessee, Idaho, Nevada, Maryland, North Carolina, New Jersey, Georgia, Ohio, Alabama, Delaware, Kentucky and Virginia. The company is No. 66 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.
