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Dollar General Projects Same-store Sales Decline Of 4% To 6% For FY21

Dollar General Corp. (DG) said, for fiscal 2021, the company currently expects net sales in the range of a 2% decline to flat. The company projects a same-store sales decline of 4% to 6%, which reflects growth of approximately 10% to 12% on a two-year stack basis. EPS is projected in the range of $8.80 to $9.50, which reflects a compound annual growth rate between 15% and 20% (or between 14% and 19% on an adjusted basis) over a two-year period.

"Our diluted EPS guidance reflects a compound annual growth rate over a two-year period that is well above our long-term goal of delivering at least 10% annual EPS growth on an adjusted basis," said John Garratt, Dollar General's CFO.

The company reiterated its plans to execute 2,900 real estate projects in fiscal 2021, including 1,050 new store openings, 1,750 store remodels, and 100 store relocations.

From January 30, 2021 through February 26, 2021, same-store sales increased approximately 5.7%. From February 27, 2021 through March 16, 2021, same-store sales decreased approximately 16%.

Fourth quarter earnings per share increased 24.8% year-on-year to $2.62. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $2.72, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net sales rose 17.6% to $8.4 billion. Analysts expected revenue of $8.3 billion, for the quarter. Same-store sales were up 12.7%.

On March 16, 2021, the company's Board declared a quarterly cash dividend of $0.42 per share on common stock, payable on or before April 20, 2021 to shareholders of record on April 6, 2021.

Shares of Dollar General Corp. were down 6% in pre-market trade on Thursday.

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