Dollar General's Cautious View Overshadows 3Q Beat

Dollar General (DG) revealed a stronger-than-expected 21% leap in third-quarter profits on Tuesday but the discount retailer’s full-year guidance trailed Wall Street’s expectations.

Shares of Dollar General dropped about 2% as traders focused more on the company’s narrowed outlook than its slight earnings beat.

Dollar General said it earned $208 million, or 62 cents a share, last quarter, compared with a profit of $171 million, or 50 cents a share, a year earlier.

Excluding one-time items, it earned 63 cents a share, topping consensus calls from analysts by 3 cents.

Revenue jumped 10% to $3.96 billion, matching the Street’s view. Same-store sales increased 4%, but gross margins dipped to 30.9% from 31%.


Read more: http://www.foxbusiness.com/industries/2012/12/11/dollar-general-3q-profit-beats-street/#ixzz2ElsrnBJe

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- Posted: 2012-12-11 14:00:19

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