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Dollar General Q2 Comps. Down 4.7%; Updates FY21 Guidance - Quick Facts

Dollar General Corp. (DG) said its second-quarter same-store sales decreased 4.7%, driven by a decline in customer traffic, partially offset by an increase in average transaction amount. Same-store sales included a decline in each of the consumables, seasonal, apparel, and home products categories. For fiscal 2021, the company now targets same-store sales decline of 3.5% to 2.5%, compared to its previous expectation of a decline of 5% to 3%.

Second-quarter earnings per share decreased 13.8% to $2.69 from $3.12, last year. On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $2.57, for the quarter. Analysts' estimates typically exclude special items. Net income was $637.0 million, a decrease of 19.1%.

Net sales decreased 0.4% to $8.65 billion. Analysts expected revenue of $8.59 billion, for the quarter.

On August 25, 2021, the company's Board declared a quarterly cash dividend of $0.42 per share on common stock, payable on or before October 19, 2021 to shareholders of record on October 5, 2021.

For fiscal 2021, the company now expects earnings per share in the range of $9.60 to $10.20, compared to previous expectation in the range of $9.50 to $10.20. Analysts expect the company to report profit per share of $10.22. Net sales growth is projected in a range of 0.5% to 1.5%; compared to prior expectation of a 1% decline to an increase of 1%.

Shares of Dollar General were down 3% in pre-market trade on Thursday.

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