SUBSCRIBE

CATEGORIES

Dollar General raises earnings forecast on steady demand for home goods

imageStock Markets10 minutes ago (May 27, 2021 07:40AM ET)

(C) Reuters.

(Reuters) – Dollar General Corp (NYSE:DG) raised its fiscal 2021 profit forecast on Thursday, as a fresh round of stimulus checks prompted consumers to spend more on home goods.

Discount stores have performed strongly during the pandemic as their strategy of selling low-priced goods at wafer-thin margins attracts customers who turn cost-conscious in a tough year or are on a tight budget.

The chain now expects fiscal 2021 earnings per share between $9.50 and $10.20, compared with its prior range of between $8.80 and $9.50.

Dollar General also expects its fiscal 2021 net sales to increase by up to 1%, compared with its prior range of a flat-to-2% decline.

Net sales fell to $8.40 billion in the first quarter from $8.45 billion a year earlier, beating analysts’ average estimates of $8.28 billion, according to IBES data from Refinitiv.

Dollar General raises earnings forecast on steady demand for home goods

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.