Discount retailer, Dollar General Corporation DG came out with third-quarter fiscal 2015 results, wherein earnings of 88 cents a share surpassed the Zacks Consensus Estimate by a penny, while rising roughly 11% year over year.
Dollar General revised its guidance for fiscal 2015. The company now envisions earnings in the range of $3.88 to $3.93 per share, compared with $3.85–$3.95 projected earlier. The Zacks Consensus Estimate is pegged at $3.93 per share. Further, for the fourth quarter of fiscal 2015 the company expects earnings to be in the range of $1.23 to $1.28 per share.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 remains unchanged, while for fiscal 2016 it has reduced slightly in the last 30 days. In the trailing four quarters, including quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 1.2%.
Revenues: Dollar General generated net sales of $5,067 million that increased 7.3% year over year but fell short of the Zacks Consensus Estimate of $5,087 million. Same store sales increased 2.3% for the quarter.
Following the quarter, Dollar General revised its outlook for fiscal 2015, where it expects net sales to grow 8% over fiscal 2014, compared to a growth of 8-9% over fiscal 2014 sales expected earlier. Same store sales are now expected to grow 2.5-2.8% for fiscal 2015, compared to 3-3.5% expected earlier.
Key Events: During the 39-week period ended Oct 30, 2015, Dollar General opened 634 new stores and remodeled or relocated 857 stores and repurchased 13.4 million shares for $1 billion.
Zacks Rank: Currently, Dollar General carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.
Check back later for our full write up on Dollar General’s earnings report!
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