Thursday, March 15, 2018

Dollar General's strong same-store sales, profit forecast lift shares

Reuters

Dollar General Inc posted strong quarterly same-store sales and gave an upbeat profit forecast for 2018, in contrast to rival Dollar Tree Inc, indicating moves to remodel stores and stock a wider variety of products were paying off.

In order to drive sales, Dollar General has been investing in remodeling stores and lining its shelves with more private-label as well as health and beauty products, while also selling groceries and other items at lower prices.

That helped Dollar General’s same-store sales increase 3.3 percent in the holiday quarter, easily beating analysts average estimate of a 2.7-percent rise.. . . more