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Dollar General Corp (NYSE:DG) reported better-than-expected first-quarter financial results on Thursday.
Dollar General reported first-quarter FY24 sales growth of 6% year-on-year to $9.910 billion, beating the analyst consensus estimate of $9.897 billion. Same-store sales increased 2.4% versus last year. EPS of $1.65 beat the analyst consensus estimate of $1.56, according to data from Benzinga Pro.
"These results were driven by strong customer traffic growth and market share gains during the quarter, which we believe is a testament to the relevance of our unique combination of value and convenience, as well as to improved execution across our organization,” said CEO Todd Vasos.
Dollar General reaffirmed FY24 sales growth outlook of 6% – 6.7% and same-store sales growth of 2.0% – 2.7%. The company expects FY24 EPS of $6.80 – $7.55 versus an estimate of $7.25. Capital expenditure of $1.3 billion – $1.4 billion.
Dollar General sees second-quarter sales growth in the low 2% range and EPS of $1.70 – $1.85 against an estimate of $1.92.
Dollar General shares fell 8.1% to close at $127.94 on Thursday.
These analysts made changes to their price targets on Dollar General after the company reported quarterly results.
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Posted In: DG
