Dollar General Corporation Reports Third Quarter 2022 Results
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Dollar General (DG) shares slide as profit impacted by increased product costs
December 1, 2022 1:41 PM ESTDollar General shares plunged Thursday after the company reported third-quarter earnings before the open, missing earnings estimates.
The discount retail company's earnings per share came in at $2.33, $0.21 worse than the analyst estimate of $2.54, while revenue topped the consensus estimates at $9.5 billion versus the consensus estimate of $9.42 billion.
Dollar General shares are down more than 8% at the time of writing.
Net sales increased by 11.1%, while same-store sales grew 6.8% during the quarter, while the company said there was a "modest increase" in customer traffic. Dollar General also faced higher... More
Dollar General (DG) Misses Q3 EPS by 21c, Offers Outlook
December 1, 2022 7:00 AM ESTDollar General (NYSE: DG) reported Q3 EPS of $2.33, $0.21 worse than the analyst estimate of $2.54. Revenue for the quarter came in at $9.5 billion versus the consensus estimate of $9.42 billion.
Fiscal Year 2022 Financial Guidance and Store Growth Outlook:
During the third quarter, the Company experienced unanticipated delays in acquiring additional temporary warehouse space sufficient for its inventory needs, which caused inefficiencies within the Companys internal supply chain. These challenges resulted in higher-than-anticipated supply chain costs, including fees incurred for delays in returning shipping containers, and higher transportation costs caused by the need to... More
