Dollar General's stock tumbles after retailer misses earnings estimates and lowers guidance

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Dollar General's stock tanked after quarterly earnings fell short and the retailer lowered its guidance by a wide margin.

Dollar General Corp.’s stock tumbled 13.9% in premarket trade Thursday, after the discount retailer posted weaker-than-expected second-quarter earnings and lowered its guidance.

The sales increase was mostly due to positive contributions from new stores, which were partially offset by a decline in same-store sales and store closures. Same-store sales were hurt by lower traffic, partly offset by higher average transaction amount. Gross profit as a percentage o sales was 31.4%, down from 32.3% a year ago, for a 126 basis point decline. That was mostly due to lower inventory markups and increased shrink, markdowns, and inventory damages, as well as a greater proportion of sales coming from the consumables category, which has a lower gross profit rate than other product categories.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 3. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Dollar General’s stock tumbles premarket after earnings miss and lowered guidanceDollar General Corp.’s stock tumbled 13.7% in premarket trade Thursday, after the discount retailer posted weaker-than-expected second-quarter earnings and...
Källa: MarketWatch - 🏆 3. / 97 Läs mer »