Dollar General Stock Plunges on Weaker-Than-Expected Earnings, Outlook

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Dollar General Stock Plunges on Weaker-Than-Expected Earnings,

This is the hidden content, please

• Sign In
• or
• Sign Up

Scott Olson / Getty Images

" bad-src="https://s.yimg.com/ny/api/res/1.2/RrVTo5VEQRZn7y3KHDRARg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--/https://media.zenfs.com/en/investopedia_245/f3dace50267c384900ca6bda76d6647d" fifu-data-src="https://s.yimg.com/ny/api/res/1.2/RrVTo5VEQRZn7y3KHDRARg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--/https://media.zenfs.com/en/investopedia_245/f3dace50267c384900ca6bda76d6647d">

Scott Olson / Getty Images

Key Takeaways

Dollar General reported second-quarter earnings below analysts’ estimates and lowered its projections for the full year.

CEO Todd Vasos said Dollar General is seeing a “core customer who feels financially constrained.”

Shares of Dollar General plunged in early trading Thursday following the news.

Dollar General (DG) shares tumbled Thursday morning after the discount retailer reported weaker-than-expected earnings for the second quarter lowered its projections for full-year revenue.

Dollar General reported $10.21 billion in

This is the hidden content, please

• Sign In
• or
• Sign Up

for the second quarter, up 4% from the same time last year but below analysts’ estimates as

This is the hidden content, please

• Sign In
• or
• Sign Up

rose just 0.5%. Dollar General also missed profit projections compiled by Visible Alpha, with

This is the hidden content, please

• Sign In
• or
• Sign Up

down 20% year-over-year at $374.19 million.

Taking Action to Improve Value, Convenience

Dollar General

This is the hidden content, please

• Sign In
• or
• Sign Up

Todd Vasos said the company believes the “softer sales trends” it’s experiencing can be partially explained by a “core customer who feels financially constrained.” He said the company is taking “decisive action” to improve Dollar General’s value and convenience for customers.

The company lowered its

This is the hidden content, please

• Sign In
• or
• Sign Up

for the full fiscal year, projecting revenue growth of between 4.7% to 5.3%, down from a previous range of 6% to 6.7%, while same-store sales are expected to grow 1% to 1.6%, down from 2% to 2.7% previously.

The retailer said it anticipates full-year

This is the hidden content, please

• Sign In
• or
• Sign Up

of $5.50 to $6.20, down from the previous range of $6.80 to $7.55. The new range is below analyst estimates of $7.12 and the $7.55 per share Dollar General reported for fiscal 2023.

Dollar General shares were down 28% to $89.01 in Thursday morning trading, and have lost over one-third of their value since the start of the year.

Read the original article on

This is the hidden content, please

• Sign In
• or
• Sign Up

.

This is the hidden content, please

• Sign In
• or
• Sign Up

#Dollar #General #Stock #Plunges #WeakerThanExpected #Earnings #

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up