Shares of Dollar General Corp. dove 6.8% toward a nine-month low in premarket trading Thursday, after the discount retailer warned of a fourth-quarter profit...
Shares of Dollar General Corp. DG dove 6.8% toward a nine-month low in premarket trading Thursday, after the discount retailer warned of a fourth-quarter profit miss, citing the negative effect of Winter Storm Elliott on December sales. The company now expects earnings per share for the quarter ended Feb. 2 of $2.91 to $2.96, below the previous guidance range of $3.15 to $3.30, and now projects same-store sales to rise 5.7% from a year ago versus previous expectations of 6%-to-7% growth.
30, and now projects same-store sales to rise 5.7% from a year ago versus previous expectations of 6%-to-7% growth. “The company believes the lower-than-expected results are primarily attributable to lower-than-anticipated sales and higher-than-anticipated inventory damages, both of which were negatively impacted, to varying degrees, by Winter Storm Elliott during the fourth quarter,” the company said in a statement.
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