Dollar General (DG): Another Day, Another Discount Retailers Earnings Beat
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Price: $53.86 -1.12%
EPS Growth %: +11.5%
Financial Fact:
Basic (in dollars per share): 0.97
Today's EPS Names:
NED, OESX, WSTL, More
EPS Growth %: +11.5%
Financial Fact:
Basic (in dollars per share): 0.97
Today's EPS Names:
NED, OESX, WSTL, More
Trade DG Now!
Shares of Dollar General (NYSE: DG) are moving higher in pre-market trading on Wednesday after the retailer reported Q2 earnings and revenue that were better than analyst estimates. Revenue for the quarter was reported at $3.95 billion versus the consensus estimate of $3.82 billion, and prior year revenue of $3.57 billion. Comps rose by 5.1 percent. On the earnings front, adjusted EPS came in at 69 cents, 5 cents better than anticipated and 17c better than last year's earnings for the same quarter.
Dollar general wasn't the first discount retailer to beat estimates in the second quarter. A number of other “"discount" retailers reported solid results, including Walmart Stores (NYSE: WMT). This may not say much for the state of the economy in the U.S., but it bodes well for a continuation of trends in the sector of retail.
"Dollar General had another strong quarter," said Rick Dreiling, chairman and chief executive officer. "Our same-store sales increase of 5.1 percent demonstrates the ongoing execution of the initiatives around our key operating priorities and is evidence of our continued importance to our customers."
Dollar General sees FY2012 EPS of $2.77-2.85, versus prior guidance of $2.68-2.78. This is right in-line with the consensus of $2.81. Comps for 2012 are expected to growth to 4 to 5 percent vs previous expectations of 3 to 5 percent.
The company also announced that it raised their share buyback plan by $500 million.
Shares of Dollar General are up 3 percent to $52.20 in pre-open trading.
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Dollar general wasn't the first discount retailer to beat estimates in the second quarter. A number of other “"discount" retailers reported solid results, including Walmart Stores (NYSE: WMT). This may not say much for the state of the economy in the U.S., but it bodes well for a continuation of trends in the sector of retail.
"Dollar General had another strong quarter," said Rick Dreiling, chairman and chief executive officer. "Our same-store sales increase of 5.1 percent demonstrates the ongoing execution of the initiatives around our key operating priorities and is evidence of our continued importance to our customers."
Dollar General sees FY2012 EPS of $2.77-2.85, versus prior guidance of $2.68-2.78. This is right in-line with the consensus of $2.81. Comps for 2012 are expected to growth to 4 to 5 percent vs previous expectations of 3 to 5 percent.
The company also announced that it raised their share buyback plan by $500 million.
Shares of Dollar General are up 3 percent to $52.20 in pre-open trading.
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