Discount retailer, Dollar General Corporation (DG) came out with first-quarter fiscal 2015 results, wherein earnings of 84 cents a share came ahead of the Zacks Consensus Estimate of 82 cents while rising 17% year over year.
For fiscal 2015, Dollar General expects earnings to be in the range of $3.85 to $3.95 per share. The Zacks Consensus Estimate is pegged at $3.93 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 remains unchanged but that for fiscal 2016 has been portraying a downtrend in the last 30 days.
In the trailing four quarters, the company outperformed the Zacks Consensus Estimate by an average of 1.2%.
Revenues: Dollar General generated net sales of $4,918.7 million that increased 8.8% year over year but fell short of the Zacks Consensus Estimate of $4,942. Same store sales increased 3.7% for the quarter.
For fiscal 2015, the company continues to expect sales to grow 8-9% over fiscal 2014 sales. Same store sales are expected to grow 3-3.5% for fiscal 2015.
Key Events: Dollar General opened 219 new stores in the quarter and repurchased 7.1 million shares for $534.7 million.
Zacks Rank: Currently, Dollar General carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Stock Movement: Dollar General shares are up nearly 3% during pre-market trading hours following the earnings release.
Check back later for our full write up on Dollar General’s earnings report!
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