Dollar General Stock Sinks. The Retailer Slashes Its Outlook After Missing Earnings Expectations.

Dollar General stock tumbled double-digits Thursday after the discount retailer slashed guidance, citing softer sales trends and higher capital expenditures.

“While we are not satisfied with our overall financial results, we made significant progress in the second quarter improving execution in our supply chain and our stores, as well as reducing our inventory growth rate and further strengthening our price position,” Chief Executive Jeff Owen said in the earnings release.

“We thought there was a risk that DG would need to invest more in stores than [management] initially expected, and reduce guidance as a result, but this is a much bigger cut than we were expecting,” wrote Citi analyst Paul Lejuez in a note Thursday.

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