Why Discount Store Chain Dollar General’s Shares Are Shooting Higher Today?
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.