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Dollar General Backs FY EPS View; Stock Down - Quick Facts

Dollar General Corp. (DG) said it reiterated its earnings per share guidance of $5.95 to $6.15 for fiscal year 2018. Analysts polled by Thomson Reuters expect the company to report earnings of $6.06 per share for the year. Analysts' estimates typically exclude special items.

The earnings per share guidance now assumes an effective tax rate at the lower end of the 22% to 23% range that the company previously provided. For the fiscal year 2018, the Company now expects net sales growth to be in the range of 9% to 9.3%. The company raised its fiscal year 2018 same-store sales growth outlook to the mid-to-high two percent range.

The company continues to expect its fiscal year 2018 operating margin rate to be relatively unchanged compared with the fiscal year 2017 operating margin rate.

The company previously issued financial guidance and store growth outlook, in each case for the 52-week fiscal year ending February 1, 2019, on May 31, 2018. The company updated such prior guidance in full.

The company continues to anticipate a cash benefit of approximately $300 million in fiscal 2018 as a result of the TCJA.

In addition, the company continues to expect share repurchases for fiscal year 2018 to be approximately $850 million, and capital expenditures for fiscal year 2018 to be in the range of $725 million to $800 million.

The company reiterated its plans to open approximately 900 new stores, remodel 1,000 stores and relocate 100 stores in fiscal year 2018.

In Thursday pre-market trade, DG is trading at $104.20, down $2.50 or 2.34 percent.

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