Dollar General Corp. shares were moving about 3% lower in premarket action Thursday though the discount retailer met total sales expectations for its latest...
Dollar General Corp. shares DG were moving about 3% lower in premarket action Thursday though the discount retailer met total sales expectations for its latest quarter and disclosed a dividend increase. The company saw fourth-quarter net income of $659.1 million, or $2.96 a share, up from $597.4 million, or $2.57 a share, in the year-earlier period. Analysts tracked by FactSet were expecting $2.95 a share. Dollar General generated net sales of $10.2 billion in the quarter, up from $8.
The increase was largely fueled by same-store sales growth and contributions from new stores, though some store closures weighed on overall growth. Same-store sales were up 5.7% in the quarter, while analysts were modeling 5.8% growth. For fiscal 2023, Dollar General expects 3.0% to 3.5% growth in same-store sales. Analysts were modeling 3.4% growth. The company also expects that it will see roughly 5.5% to 6.
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