Dollar General reported Thursday that its gross profit as a percentage of net sales slipped in its second quarter in part because of an elevated level of inventory shrink.
It also had a "greater proportion of sales coming from the consumables category," which is generally less profitable, the company said in an earnings release. Even though the company expects pressure from theft to continue, Dilts said that it is "working to reduce these levels through multiple targeted actions.
" "These include reducing our inventory position, refreshing and refining our processes, leveraging additional tools and technology and improving execution in our stores," she added. The company projected "softer sales trends and an increase in expected inventory shrink for the second half of 2023" and cut its profit and sales expectations for the year.
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