- Telsey Advisory Group analyst Joseph Feldman reiterated an Outperform rating on the shares of Dollar General Corp (NYSE:DG) with a price target of $280.00.
- The analyst noted that DG reported a Q2 earnings beat, driven by better-than-anticipated sales and profitability, reflecting the impact of inflation and consumers continuing to increase reliance on Dollar General amidst a challenging economic environment.
- The analyst said the Q2 comparable sales reflect increases in both traffic and average ticket, with sales being strongest in consumables.
- Feldman added that, like most retailers, Dollar General is facing pressures from lapping the U.S. government stimulus and elevated costs.
- The analyst expects the company’s business to grow as consumers continue to increase their reliance on Dollar General.
- He also cited Dollar General’s performance to be driven by new stores and remodels and a number of initiatives, including the expansion of cooler doors, DG Fresh supply chain upgrades, Fast Track inventory/labor management, and the expansion of non-consumables initiatives.
- Price Action: DG shares are trading lower by 1.46% at $243.83 on the last check Thursday.
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