Dollar General raises full-year outlook after Q1 earnings beat on budget-conscious consumer demand

The discount retailer lifted its full-year profit outlook as budget-conscious shoppers driving positive foot traffic helped quarterly earnings per share beat expectations despite a slight revenue miss.

The stock was up more than 30% — not a typo — after-hours.

The company raised its guidance for the full fiscal year, saying it sees revenue growth of 29% to 33%, compared with its previous guidance for 17% to 22%.