Dollar General (DG) Misses Q2 EPS by 1c; Approves $1B Common Stock Buyback Program
Dollar General (NYSE: DG) reported Q2 EPS of $1.08, $0.01 worse than the analyst estimate of $1.09. Revenue for the quarter came in at $5.39 billion versus the consensus estimate of $5.5 billion.
Same-store sales increases were driven by positive results in the consumables category accompanied by results in the seasonal category that were flat when compared to the 2015 second quarter, offset by negative results in the apparel and home categories. The net sales increase was also positively affected by sales from new stores, modestly offset by sales from closed stores.
On August 24, 2016, the Board of Directors authorized an additional $1.0 billion for share repurchases, increasing the total authorization for future repurchases to approximately $1.4 billion. The authorization has no expiration date.
Dollar General reaffirmed FY2016 guidance.
For earnings history and earnings-related data on Dollar General (DG) click here.