2024-03-17 10:23:00 ET
Value-oriented retailer Dollar General (NYSE: DG) has been through a rough patch since the COVID-19 pandemic began abating. After overestimating post-pandemic demand and clogging up stores with too much of the wrong inventory headed into 2023, the company has been booking heavy markdowns on tepid sales.
Investors have shared in this struggle, too. From their late-2022 peak to last year's trough, Dollar General shares fell nearly 60%.
There's a light at the end of the tunnel though. While overall sales still fell year over year for its recently reported fiscal fourth quarter, same-store sales were up a bit, reversing a couple of quarters' worth of weakness. Revenue of $9.9 billion also topped estimates of $9.76 billion, and per-share earnings of $1.80 were higher than analysts' consensus of $1.72 per share.
For further details see:
Does This Rival's Retreat Make Dollar General Stock a Buy?