Dollar General (NYSE) shares soar after surpassing Q1 FY24 earnings expectations. The retailer posted a 6% increase in sales to $9.91 billion, outperforming the $9.897 billion consensus. Despite a dip in gross profit margin to 30.2%, same-store sales rose 2.4% due to higher customer traffic. EPS of $1.65 topped estimates of $1.56. Dollar General reaffirms its FY24 outlook, forecasting steady growth and new store expansions.
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Kohl's shares dropped as Q1 FY24 earnings fell short. Sales declined by 5.3% to $3.178 billion, missing the $3.335 billion estimate. Comparable sales dipped 4.4%, and EPS of $(0.24) missed the $0.03 consensus. The company slashed its FY24 sales growth outlook to a decline of (2%) - (4%), with EPS guidance lowered to $1.25 - $1.85.
Best Buy reported better than expected earnings and a dividend of $0.94 per share. For fiscal 2025, they anticipate a decline in sales and operating income.