Dollar General forecasted annual sales above Wall Street estimates, reflecting improved demand for essentials. The company's shares rose as it outlined plans to revamp stores and open at least 500 new ones next year.
- Dollar General forecast annual sales largely above Wall Street estimates on Thursday, as the discount retailer benefits from improving demand for essentials such as groceries. Its shares, which have fallen about 40% this year, were up about 2% in premarket trading as the company also laid out a plan to revamp old stores and open at least 500 new ones next year.
The dollar-store chain operator said it aims to open about 575 new stores in the U.S., while fully remodeling roughly 2,000 stores in the fiscal year ending January 2026.) in signaling traffic to stores had improved in the third quarter along with shoppers buying more on average per trip.CEO Todd Vasos said while its core customer base remained financially constrained, sales improved in the quarter due to better execution and the customer experience at its stores. Dollar General posted third-quarter net sales of $10.18 billion, beating analysts' average estimate of $10.15 billion, according to data compiled by LSEG. To attract more shoppers, Dollar General is offering a mega deal with 50% off everyday for 24 days during the holiday season on products ranging from bluetooth speakers to thick cut bacon. The company now expects annual net sales to rise between 4.8% and 5.1%, compared with analysts' estimates 4.77%, as per data compiled by LSEG. Still, Dollar General trimmed the upper end of its annual profit forecast and said it includes the impact of hurricane-related expenses of $32.7 million in the third quarter. The company expects annual earnings per share in the range of $5.50 to $5.90, compared with its prior forecast range of $5.50 to $6.20. Dollar General posted earnings of 89 cents per share in the quarter ended Nov. 1, missing estimates of 94 cents.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
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