Stock Groups

Dollar General forecasts full-year net sales above estimates -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: A line of people exits a Dollar General Store in Mount Rainier Maryland on June 1, 2021. REUTERS/Erin Scott

(Reuters). -Dollar General Corp’s full-year forecast was higher than analysts’ expectations on Thursday. This is because Americans tend to be more thrifty and shop at discount shops for food and other household goods.

U.S. discount shops have witnessed steady store traffic as customers gradually return to pre-pandemic lifestyles after the Omicron-led suspension and start buying discounted clothing, lotions and lipsticks.

Even though coronavirus-related restrictions have been eased, the trend towards cooking at home is still strong. This has helped to boost grocery sales in discount stores that were impacted by lockdowns.

According to IBES data from Refinitiv, the discount retailer forecasts full-year net sales growth of 10%. Analysts, however, expect growth to be 7.5%.

From $642.74million, which was $2.62 per shares a year ago, the company’s quarter-end net income fell to $597.4m, or $2.57 per share.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]