- Dollar General Corp (NYSE:DG) reported third-quarter FY22 sales growth of 11.1% year-on-year to $9.46 billion, beating the consensus of $9.42 billion.
- Same-store sales increased 6.8% versus last year. Positive sales contributions from new stores and growth in same-store sales drove the top-line growth.
- Gross profit margin for the quarter decreased 27 basis points Y/Y to 30.5%. Operating margin was 7.7%, and operating income for the quarter rose 10.5% to $735.5 million.
- The company held $362.7 million in cash and equivalents as of October 28, 2022. Year-to-date cash flow from operations totaled $1.2 billion.
- EPS of $2.33 missed the analyst consensus of $2.53.
- As of October 28, 2022, total merchandise inventories, at cost, were $7.1 billion, an increase of 28.4% on a per-store basis.
- The total remaining authorization for future repurchases was $2.5 billion at the Q3 end.
- On November 30, 2022, the company’s board declared a quarterly cash dividend of $0.55 per share on its common stock, payable on or before January 17, 2023, to shareholders of record on January 3, 2023.
- Outlook: Dollar General sees Q4 EPS of $3.15 – $3.30 versus an estimate of $3.67.
- The company expects Q4 same-store sales growth of about 6% – 7%.
- The company plans to execute 3,170 real estate projects in the U.S. in FY23, including 1,050 new store openings, 2,000 remodels, and 120 store relocations.
- It continues to expect FY22 sales growth of approximately 11%.
- It sees EPS growth of 7% – 8% for FY22 compared to its previous expectation of 12% – 14%.
- Price Action: DG shares are trading lower by 9.22% at $232.10 on the last check Thursday.
- Photo Via Company
One Stop Systems CEO And Chairman Issue Letter To Shareholders
Dear Fellow Shareholders,We are excited about the opportunity ahead of us and the positive momentum underway at OSS. Since my appointment as President and CEO in June 2023, I am proud of the progress the OSS team has
