Dollar General Reiterates FY23 Outlook; Declares Dividend - Update

(RTTNews) - While reporting financial results for the third quarter on Thursday, Dollar General Corp. (DG) reiterated its earnings, net sales growth and same-store sales guidance for the full-year 2023.

For fiscal 2023, the company continues to project earnings in a range of approximately $7.10 to $7.60 per share, or a decline of 34 to 29 percent, on net sales growth of 1.5 to 2.5 percent, with same-store sales decline of about 1 percent to flat.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $7.45 per share on net sales growth of 1.9 percent to $38.57 billion for the year. Analysts' estimates typically exclude special items.

The company also reiterated its plans to execute 3,110 real estate projects in fiscal 2023, including 990 new store openings, 2,000 remodels, and 120 store relocations.

On Wednesday, the Company's Board of Directors declared an increased quarterly cash dividend of $0.59 per share on the Company's common stock, payable on or before January 23, 2024 to shareholders of record on January 9, 2024.

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