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Grocery Outlet CEO: How Grocery Outlet Is the TJ Maxx of Grocery Stores

Slack WORK isn't the only company going public on Thursday. Grocery Outlet GO, IPO'd on the Nasdaq. The company, which specializes in bargain grocery goods, had its first trade at $31. The company had been priced at the higher end of its pricing range--at $22--Wednesday night. Eric Lindberg, CEO, talked to TheStreet about the company's IPO and how the company operates similarly to TJ Maxx TJX when it comes to its bargains. Grcoery Outlet was founded in 1946. So, why did the company choose to go public now? "We're a growth business and we are just interested in the capital structure that supports growth and allows us to go out and have a lot more stores, which we think we have potential to do. So it seemed like a great time," explained Lindberg. And, how is the company similar to TJ Maxx? "TJX for food, we buy directly from manufacturers. Discounted products, we pass on that 40 to 70% savings to customers. It is a treasure hunt. You go into the store this week, you'll see different brands next week and next month, the next year. We're constantly curating a mix of, of incredible brands--natural, organic, specialty, healthy, fresh products. And then we sell in a very, very interesting differentiated model with independent operators. So think about it like a franchise, although it's not technically a franchise, but they have a stake in the store. They split the profits with us and they're connected deeply in the community. So we put those two things, the values plus the independent operator together into the grocery outlet bargain market. 3 Things That Investors Need to Watch Ahead of Slack's Direct Listing

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