Dollar General Results Top Estimates
Dollar General Results Top Estimates
US discount retail chain Dollar General released its quarterly results Tuesday, posting higher-than-expected profits and also said that its full-year results will likely beat analysts' forecasts. The report sent shares of the discount chain up nearly 3 percent in early trading on Wall Street.
The company, which sells the majority of its merchandise for under $10, has experienced rising sales during the financial crisis as lower-income shoppers have avoided pricier chains and even other discounters like Wal-Mart to save on everyday items. Dollar General CEO Rick Dreiling says that extreme winter weather in the second half of the quarter meant less shoppers overall, but shoppers spent more when they came.
The retailer's new fiscal full-year forecast projects sales and earnings higher than forecasts made by economists, projecting earnings of $2.20 to $2.30 per share for the year ended February 3rd. The projection includes about 6 cents per share from the year's 53rd week, which analysts did not include in their forecasts. Their projections, meanwhile, averaged about $2.14 per share.
The company's full-year forecast also called for an increase in sales of 11 to 13 percent, whereas analysts' average projection of $14.26 billion would represent a 9.3 percent increase. The company expects sales at existing stores, or stores open at least a year, to increase between 3 and 5 percent.
Dollar General currently operates 9,370 stores across 35 US states. The company has said it will open another 625 locations in 2011, and also plans on relocating 550 existing stores.
US discount retail chain Dollar General released its quarterly results Tuesday, posting higher-than-expected profits and also said that its full-year results will likely beat analysts' forecasts. The report sent shares of the discount chain up nearly 3 percent in early trading on Wall Street.
The company, which sells the majority of its merchandise for under $10, has experienced rising sales during the financial crisis as lower-income shoppers have avoided pricier chains and even other discounters like Wal-Mart to save on everyday items. Dollar General CEO Rick Dreiling says that extreme winter weather in the second half of the quarter meant less shoppers overall, but shoppers spent more when they came.
The retailer's new fiscal full-year forecast projects sales and earnings higher than forecasts made by economists, projecting earnings of $2.20 to $2.30 per share for the year ended February 3rd. The projection includes about 6 cents per share from the year's 53rd week, which analysts did not include in their forecasts. Their projections, meanwhile, averaged about $2.14 per share.
The company's full-year forecast also called for an increase in sales of 11 to 13 percent, whereas analysts' average projection of $14.26 billion would represent a 9.3 percent increase. The company expects sales at existing stores, or stores open at least a year, to increase between 3 and 5 percent.
Dollar General currently operates 9,370 stores across 35 US states. The company has said it will open another 625 locations in 2011, and also plans on relocating 550 existing stores.
Comments
Top Stories
Latest DT's
-
1 month ago by Geno -
1 month ago by dallaseste
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
1 month ago by Geno
-
2 months ago by dallaseste
Top Authors
Subscribe
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit
0 Comments
Click here to sign up now.