No. of Recommendations: 8
Crashing again pre-market on a weaker than an expected quarter and lowered guidance, plus a mention in the release of 'decisive action'; at $95 (-23%) as I type. Sales mix trends continue (up in consumables, down in non-consumables). Call at 10 am ET.
Quite disappointing as a shareholder.
GOODLETTSVILLE, Tenn.--(BUSINESS WIRE)-- Dollar General Corporation (NYSE: DG) today reported financial results for its fiscal 2024 second quarter (13 weeks) ended August 2, 2024.
Net Sales Increased 4.2% to $10.2 Billion
Same-Store Sales Increased 0.5%
Operating Profit Decreased 20.6% to $550.0 Million
Diluted Earnings Per Share (“EPS”) Decreased 20.2% to $1.70
Year-to-Date Cash Flows From Operations of $1.7 Billion
Board of Directors Declares Quarterly Cash Dividend of $0.59 Per Share
“We made important progress on our Back to Basics plan in the second quarter,” said Todd Vasos, Dollar General’s chief executive officer. “However, despite advancing several of our operational goals and driving positive traffic growth, we are not satisfied with our financial results, including top line results below our expectations for the quarter.”
“While we believe the softer sales trends are partially attributable to a core customer who feels financially constrained, we know the importance of controlling what we can control. With the evolving retail and consumer landscape in mind, we are taking decisive action to further enhance our value and convenience offering, as well as the in-store experience for our associates and customers.”
