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Aug. 26, 2021, 7:22 a.m. EDT

Dollar General's profit and sales fall

Dollar General Corp. (NYS:DG) stock slid 2.9% in Thursday premarket trading after the discount retailer reported second-quarter that beat the Street but fell versus 2020. Net income totaled $637.0 million, or $2.69 per share, down from $787.6 million, or $3.12 per share last year. Sales of $8.65 billion were down from $8.68 billion in 2020. The FactSet consensus was for EPS of $2.62 and sales of $8.61 billion. Same-store sales fell 4.7% ahead of the FactSet consensus for a 5% decline. For the year, Dollar General expects net sales growth of 0.5% to 1.5%, up from previous guidance for a range of a 1% decline to 1% growth. Same-store sales are expected to fall 3.5% to 2.5% compared with previous guidance for a decline of 3% to 5%. And Dollar General's EPS outlook is for a range of $9.60 to $10.20 narrowed from a range of $9.50 to $10.20. The FactSet consensus is for sales of $34.10 billion, suggesting growth of 1%, a same-store sales decline of 3.2% and EPS of $10.19. Dollar General stock has gained 11.6% for the year to date while the S&P 500 index (S&P:SPX) is up 19.7% for the period.

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