Dollar General (DG) Misses on Q2 Earnings; Stock Plunges
Discount retailer, Dollar General Corporation DG came out with second-quarter fiscal 2016 results, wherein earnings of $1.08 a share missed the Zacks Consensus Estimate by a penny, but increased 13.7% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has witnessed upward revisions, in the last 30 days. In the trailing four quarters, excluding quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 3.5%.
Revenues: Dollar General generated net sales of $5,391.9 million that increased 5.8% year over year but fell short of the Zacks Consensus Estimate of $5,491 million. Same store sales increased 0.7% for the quarter.
DOLLAR GENERAL Price, Consensus and EPS Surprise
DOLLAR GENERAL Price, Consensus and EPS Surprise | DOLLAR GENERAL Quote
Key Events: The company bought back 2.5 million shares during the second quarter of fiscal 2016. Since the commencement of the share repurchase program in Dec 2011, the company has bought back 67.3 million shares aggregating $4.0 billion. On Aug 24, 2016, the company announced an additional share repurchase program of $1 billion, thereby increasing the share repurchases authorization to nearly $1.4 billion.
Zacks Rank: Currently, Dollar General carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Dollar General’s shares are down nearly 7% during pre-market trading hours following the earnings release.
Check back later for our full write up on Dollar General’s earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DOLLAR GENERAL (DG): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
