A dollar general store on 30 November 2023 in Germantown, New York.
Angus Mordent/Bloomberg via Getty Image
Dollar general On Thursday, the fiscal fourth quarter reported revenue, which narrowed the estimates of Wall Street, while cutting the profit of a store portfolio review series.
As part of the revaluation, the Dollar-Store series stated that it would shut down a general store of $ 96 and 45 popshelph stores and convert six other popshalph stores into major banner locations in the first quarter. Popashalph stores complete high-ion shopkeepers in search of inexpensive products.
The company’s shares increased by 5% in premarket trading on Thursday.
It is mentioned here what Wall Street expected for the quarter ended January 31.
- earnings per share: 87 cents. This cannot compare with an estimate of $ 1.50.
- Income: $ 10.3 billion vs $ 10.26 billion is expected
The fourth quarter revenue rose from $ 9.86 billion to 4.5% during the same quarter in 2023. Revenue for the whole year came in $ 40.61 billion, in 2023 from about 5% $ 38.69 billion.
For the financial year 2025, the series estimated revenue between 3.4%and 4.4%, while Wall Street was expecting an annual growth of 4.1%, according to LSEG. The dollar general is expected to income per share for the coming year between $ 5.10 and $ 5.80 under the $ 5.85, which is analyzed by analysts according to LSEG.
The dollar general reported a net income of $ 42 million during the same quarter, or $ 1.83 per share with a net income of $ 191 million, or the fourth quarter of 87 cents per share during the same quarter.
Discount said that its portfolio review affected the earnings of 81 cents per share.
The operational benefits for the quarter fell more than 49% to $ 294 million on the year. The company attributed the closure of the store with the portfolio review and the allegations of $ 232 million for the popshalf over.
Dollar General CEO Todd Wasos said in a news release, “As we look for adequate progress made on our back in FY 2024, we believe that this review was suitable for further strengthening the foundation of our business.” “While the closure number represents less than one percent of our overall store base, we believe that this decision is in a better position to serve our customers and communities.”
Equal-store sales, which define the dollar general as revenue from open stores for at least 13 months, increased by 1.2% year-on-year for the quarter. The company said that they are expected to grow 1.2% to 2.2% for the coming financial year.
The dollar general announced in December that it was testing the same day delivery for customers. As inflation takes a toll on low -income consumers, dollar generals like dollars and dollar Tree Retail vendors have faced increased competition Wal-mart With more and more e-commerce.
In January, the Dollar General said that it would start selling about 100 new private-brand products, most of which fall under their clover Valley label and will include items such as honey mustard and cinnamon rolls in the first quarter.
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