Dollar General’s same-store sales, strong forecast lift shares

Earnings


Dollar General’s quarterly comparable store sales beat Wall Street estimates as customers continue to spend more at its stores, and the discount retailer gave a full-year profit forecast that also topped expectations.

Shares of the company, which increased its stock repurchase program by $1 billion, rose 7.2 percent premarket on Thursday.

Dollar General’s 3.3 percent rise in same-store sales beat analysts average estimate of a 2.7-percent increase, according to Thomson Reuters I/B/E/S.

The company said it expects fiscal 2018 earnings of $5.95 to $6.15 per share. Analysts were expecting $5.60 per share.

Dollar General’s net income rose to $712.2 million in the latest quarter, from $414.2 million a year ago, benefiting from a $311 million gain due to changes in U.S. tax laws.

Excluding one-time items, the Goodlettsville, Tennessee based company earned $1.48 per share, in line with analysts’ estimates.

Net sales rose to $6.13 billion from $6 billion.



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