Dollar General Cuts FY24 Outlook: Adj. EPS From $6.80-$7.55 To $5.50-$6.20 Vs. $7.13 Estimate, Revenue From $41.01B-$41.28B To $40.51B-$40.74B Vs. $41.02b Estimate

Author: Benzinga Newsdesk | August 29, 2024 07:00am

Fiscal Year 2024 Financial Guidance and Store Growth Outlook

The Company is updating its financial guidance provided on May 30, 2024, primarily to reflect the softer sales trends and related gross margin impacts, which are anticipated to continue through the remainder of the 52-week fiscal year ending January 31, 2025 ("fiscal year 2024").

The Company now expects the following for fiscal year 2024:

• Net sales growth in the range of approximately 4.7% to 5.3%, compared to its previous expectation of approximately 6.0% to 6.7%
• Same-store sales growth in the range of approximately 1.0% to 1.6%, compared to its previous expectation in the range of 2.0% to 2.7%
• Diluted EPS in the range of approximately $5.50 to $6.20, compared to its previous expectation of approximately $6.80 to $7.55
  • The Company now expects an immaterial impact to EPS from incentive compensation expense, compared to its previous expectation of an estimated negative impact to EPS of approximately $0.50
  • Diluted EPS guidance assumes an effective tax rate of approximately 23%, compared to its previous expectation in the range of approximately 22.5% to 23.5%

Posted In: DG