Dollar General

Dollar General (NYSE:DG) Fiscal Q1 Earnings Drop While Sales Rise; Lowers Fiscal 2023 Outlook

Dollar General (NYSE:DG) reported fiscal Q1 earnings  of $2.34, down from $2.41 a year earlier. Analysts polled by Capital IQ expected $2.39. Net sales for the quarter ended May 5 were $9.34 billion, up from $8.75 billion a year earlier. Analysts surveyed by Capital IQ expected $9.46 billion. The retailer’s same-store sales increased 1.6% in fiscal Q1. Analysts polled by Capital IQ expected an increase of 3.8%. Dollar General said it now expects fiscal 2023 EPS to be in the range of 8% decline to flat, compared with its previous projection of 4% to 6% growth. Net sales for the fiscal year are now projected to grow 3.5% to 5%, down from 5.5% to 6% previously, the company said. The company said its guidance assumes no share buybacks in 2023, as compared with its prior expectation of $500 million in share buybacks. Dollar General said it now expects to implement

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