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Dollar General Misses Sales Estimates
Description
Dollar General Corp ($DG@US) missed Wall Street expectations for its fourth-quarter results. Same-store sales rose 5.7 percent, missing analysts estimates of a 6 percent increase. The discount store chain has experienced a slowdown in demand while faced with soaring costs. The company expects net sales to grow between 5.5 percent and 6 percent in the fiscal year 2023. Dollar General said it would invest about $100 million in its stores, primarily in incremental labor hours, as it seeks to improve store standards and in-store experience. Shares were down 1 percent in premarket trading on Thursday.
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