Bloomberg News

Dollar General Falls Most in Two Years on Forecast Reduction (1)

June 04, 2013

Dollar General Corp. declined the most in two years after reducing the top end of its full-year earnings forecast, citing “moderating” sales growth.

The shares fell (DG:US) 9.2 percent to $48.64 at the close in New York, the biggest drop since June 2011. Dollar General has advanced 10 percent this year compared to a 14 percent gain for the Standard and Poor’s 500 Index.

“We have updated our outlook for the year to reflect moderating sales growth and a lower expected gross profit rate than we previously anticipated,” Chief Executive Officer Rick Dreiling said in a statement today.

Full-year adjusted earnings per share will be as much as $3.22, decreased from a previous forecast of a maximum of $3.30, the Goodlettsville, Tennessee-based company said in the statement. Analysts projected $3.28, the average of estimates (DG:US) compiled by Bloomberg.

To contact the reporter on this story: James Callan in New York at jcallan2@bloomberg.net

To contact the editor responsible for this story: Robin Ajello at rajello@bloomberg.net


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Companies Mentioned

  • DG
    (Dollar General Corp)
    • $56.02 USD
    • 0.20
    • 0.37%
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