Dollar General Corp.’s stock DG, +1.72% tumbled 13.7% in premarket trade Thursday, after the discount retailer posted weaker-than-expected second-quarter earnings and lowered its guidance.
47 and sales of $9.926 billion. Same-store sales fell 0.1% while FactSet was expecting a 0.9% rise. Owen said the company is making further investments to draw down inventory and drive growth and expect an operating profit headwind of up to $170 million in the second half from those investments. Dollar General lowered its guidance and said it now expects sales to be up 1.3% to 3.3%, compared with prior guidance of up 3.5% to 5.0%. It expects EPS of about $7.10 to $8.
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