Dollar General Corp. - DG STOCK NEWS

Dollar General has partnered with Meta to launch a new media network, DGMN, which enables advertisers to reach over 90 million unique customers through closed-loop measurement of in-store sales. This makes DG the first retailer to offer such a solution, allowing for targeted advertising via platforms like Facebook and Instagram. DGMN utilizes first-party data to provide full campaign support and measurable outcomes. Early results indicate DGMN's strength in reaching customers through 1,400 derived attributes. The partnership aims to enhance advertising effectiveness by evaluating Meta marketing investments against traditional metrics.

Dollar General Corporation (NYSE: DG) reported strong financial results for fiscal 2022, with fourth-quarter net sales up 17.9% to $10.2 billion and annual net sales increasing 10.6% to $37.8 billion. Same-store sales rose 5.7% in Q4 and 4.3% annually. Operating profit for Q4 was $933.2 million, a 17.1% increase. The company announced a quarterly dividend increase to $0.59 per share and provided fiscal 2023 guidance, expecting net sales growth of 5.5%-6% and diluted EPS growth of 4%-6%. However, the outlook anticipates challenges from sales mix pressures and higher expenses.

Dollar General has rebranded its pet food line, Nature’s Menu, focusing on premium quality at value prices. The new formula highlights natural ingredients, including real meat as the main component, and excludes fillers, artificial additives, and by-products. Products range from $7 to $20, with sizes available in 5-pound and 15-pound bags. An updated wet food line is set to launch this summer. The initiative underscores Dollar General’s commitment to private brands and reflects consumer insights, promising a 100% satisfaction guarantee.

Kōze Place, a new specialty home scenting brand, has launched exclusively at Dollar General. Developed in partnership with world-renowned perfumers, Kōze Place features nine uniquely curated scents, including Passionfruit & Hibiscus and Fresh Lavender & Cotton. The product line includes scented candles, wax melts, and diffuser oils, all priced at $5 or less. Committed to sustainability, all products are paraben-free and cruelty-free. Kōze Place aims to provide premium scent experiences at an affordable price, available in over 19,000 Dollar General stores across 47 states.

Dollar General Corporation (NYSE: DG) announced preliminary financial results for the fourth quarter and fiscal year 2022, revealing lower-than-expected performance.

For Q4, the company expects diluted earnings per share (EPS) between $2.91 and $2.96, down from prior expectations of $3.15 to $3.30. Same-store sales increased 5.7%, below the anticipated 6%-7%. For the full year, same-store sales rose 4.3%, less than the expected 4.0%-4.5%. The company cited adverse effects from Winter Storm Elliott on sales and inventory damages.

Future guidance estimates same-store sales growth of 3.0%-3.5% and EPS growth of 4%-6% for fiscal 2023.

Dollar General Corporation (NYSE: DG) announced the retirement of John Garratt, President and Chief Financial Officer, effective June 2, 2023. Garratt has been with the company since 2014, serving in various key financial roles, including CFO since December 2015. His leadership contributed to strong financial performance through disciplined expense management and strategic initiatives. The company is evaluating candidates for the CFO position internally, indicating a commitment to succession planning. Garratt expressed gratitude for his time at Dollar General and optimism for the company's future growth.

Dollar General has opened its 19,000th store in Joplin, Missouri, marking a significant milestone in the company's history. The celebration included a $19,000 donation to Royal Heights Elementary School, aiming to support literacy and education programs. CEO Jeff Owen emphasized the company’s ongoing commitment to serving communities across the states where it operates, including employing over 6,000 individuals in Missouri. The new store is expected to enhance local access to affordable products and contribute positively to the economy by creating jobs and generating tax revenue.

Dollar General (NYSE: DG) has partnered with Ibotta to offer a cash-back rewards program, enhancing its financial services for customers. This initiative aims to help consumers maximize their budgets, aligning with Dollar General's commitment to affordability. Customers can expect to access cash-back rewards on thousands of items via Ibotta's platform, with rewards available through Dollar General's app and website by Spring 2023. The partnership also marks Dollar General as the first retailer in its channel to join the Ibotta Performance Network, facilitating coordinated promotions. This follows the announcement of the company's enhanced financial services in March 2022.

Dollar General (NYSE: DG) reported strong financial results for fiscal Q3 2022, with net sales up 11.1% to $9.5 billion and same-store sales growing by 6.8%. Operating profit rose 10.5% to $735.5 million, while diluted EPS increased 12.0% to $2.33. Despite rising supply chain costs affecting gross margins, the company is optimistic about future growth, planning approximately 3,170 real estate projects in FY 2023, including 1,050 new stores. The Board declared a quarterly dividend of $0.55 per share. Updated EPS guidance for FY 2022 is now $3.15 - $3.30 due to anticipated ongoing cost pressures.