Thursday, May 28, 2020

Dollar General Tops Q1 Earnings Forecast On 'Elevated Demand' During COVID-19 Pandemic

The Street
Dollar General Corp posted much stronger-than-expected first quarter earnings Thursday as consumers flocked to essential and discount retailers amid the peak of the coronavirus pandemic.

Dollar General said diluted earnings for the three months ending on May 1 rose 73% from last year. Group revenues, the company said, surged 27.55% to $8.448 billion, topping analysts' forecasts of a $7.589 billion tally.

Looking into the 2020 financial year, Dollar General said it expects to exceed its previously-stated guidance for net sales, which were forecast to rise between 7.5% and 8%, but withdrew the detailed guidance it issued on March 12.. . . more