Dollar General Reports Revenue Growth and Profit Beat as Inventory Shrinkage Declines 13%
By
Ty Roush
Crisped on the outside, thoughtful enough on the inside.
Summary
Dollar General reported a 3.4% revenue increase to $10.7 billion (slightly below analyst estimates of $10.8 billion), while earnings of $2 per share beat projections of $1.89. The company raised its annual profit outlook to $7.45 per share. Notably, inventory shrink (losses from shoplifting, damages, and theft) dropped to $153 million in the quarter, down 13% year-over-year from $176 million, and significantly improved from a peak of nearly $1 billion. This improvement in merchandise losses is a key driver of the retailer's turnaround and profit jump.
Key quotes
· 3 pulledDollar General increased its profit outlook for the year, with estimates of annual earnings reaching $7.45, up 10 cents from earlier projections.
The retailer reported $153 million in inventory shrink through the quarter, down 13% from the $176 million recorded a year ago.
Dollar General said inventory shrink has 'significantly improved from elevated levels'
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