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4-Traders Homepage  >  Equities  >  Nyse  >  Dollar General Corporation    DG

DOLLAR GENERAL CORPORATION (DG)
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Dollar General : Extends Streak of Rising Sales, Plans 900 More Stores

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12/07/2017 | 08:46pm CEST
By Sarah Nassauer 

Dollar General Corp. said quarterly sales rose at the fastest pace in nearly three years, a sign that the discount chain continues to find pockets of cash-strapped consumers by opening hundreds of new stores, many in rural areas.

Sales in existing stores rose 4.3% in the quarter ended Nov. 3, as more customers visited its small, convenient stores where they spend on average $12 per trip.

The Goodlettsville, Tenn.-based retailer confirmed it plans to open 1,285 stores in fiscal 2017, and 900 stores next year. Dollar General will also remodel 1,000 older stores, modernizing and adding refrigerated coolers to sell more fresh food and more space for health and beauty products.

Stores with more cooler space receive one additional trip per shopper on average, said Chief Executive Todd Vasos on a call with investors. "All ships in the harbor, if you will, rise within those remodels," said Mr. Vasos.

The retailer's stock rose 2% to $92.71 in mid-day trading. The shares have gained 25% so far this year.

Dollar General's rosy earnings report was similar to that of competitor Dollar Tree Inc. two weeks ago, as the small format chains, often located closer to shoppers than big-box competitors or traditional grocery stores, continue to appeal to budget-minded customers. Dollar Tree's sales in existing stores rose 3.3% in the most recent quarter.

Dollar General has grown rapidly in recent years, in part by opening thousands of stores in mostly rural areas to access more of its core shoppers: households that earn $40,000 a year or less.

With around 14,000 stores in the U.S., that strategy has proved fruitful, even as the economy grows, because rural communities have recovered more slowly than metropolitan areas.

On Thursday, Mr. Vasos said Dollar General will work to reach more urban customers as well.

"We are seeing that our brand is resonating in geographic areas that are new to us, as some of our highest sales performance is coming from areas where we historically have not had a presence," he said. "We anticipate that 75% of the U.S. population will be within five miles of a Dollar General by the end of fiscal 2017."

Net sales increased 11% to $5.9 billion during its third quarter. Profit rose 4.3% to $252.5 million. The company now predicts net sales will grow 7% this fiscal year, up from a previous forecast of 5% to 7%.

--Imani Moise contributed to this article.

Write to Sarah Nassauer at [email protected]

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Financials ($)
Sales 2019 25 432 M
EBIT 2019 2 178 M
Net income 2019 1 613 M
Debt 2019 2 593 M
Yield 2019 1,15%
P/E ratio 2019 16,41
P/E ratio 2020 14,85
EV / Sales 2019 1,15x
EV / Sales 2020 1,07x
Capitalization 26 622 M
Chart DOLLAR GENERAL CORPORATION
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Dollar General Corporation Technical Analysis Chart | DG | US2566771059 | 4-Traders
Technical analysis trends DOLLAR GENERAL CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 105 $
Spread / Average Target 5,5%
EPS Revisions
Managers
NameTitle
Todd J. Vasos Chief Executive Officer & Director
Mike M. Calbert Chairman
John W. Garratt Chief Financial Officer & Executive Vice President
Warren F. Bryant Independent Director
William C. Rhodes Independent Director
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