DG - Why Discount Store Chain Dollar General's Shares Are Shooting Higher Today? | Benzinga
Dollar General Corp (NYSE:DG) shares are trading higher after the company reported a better-than-expected first-quarter FY24 earnings.
The company reported first-quarter FY24 sales growth of 6% year-on-year to $9.910 billion, beating the analyst consensus estimate of $9.897 billion.
Same-store sales increased 2.4% versus last year, driven by an increase in customer traffic, partially offset by a decrease in average transaction amount.
The gross profit margin for the quarter decreased 140 basis points Y/Y to 30.2%. The operating margin compressed from 7.93% to 5.51%, and operating income for the quarter declined 26.3% to $546.1 million.
The company held $720.7 million in cash and equivalents as of May 3, 2024. Operational cash flow increased ...