Dollar General Corp. - DG STOCK NEWS

Dollar General Corporation (NYSE: DG) announced the promotion of Kelly Dilts to Executive Vice President and Chief Financial Officer, effective May 1, 2023. John Garratt, the current President and CFO, will continue as President until his retirement on June 2, 2023. Dilts has been with the company since July 2019, serving as Senior Vice President, Finance, overseeing financial planning, procurement, and investor relations.

CEO Jeff Owen expressed confidence in Dilts' leadership abilities, highlighting her strategic development alongside Garratt and other senior leaders. With over 30 years of experience in retail finance, she previously served as CFO at Francesca’s Holdings Corporation and held key roles at Tailored Brands Inc.

Redbox, a subsidiary of Chicken Soup for the Soul Entertainment, has announced a significant expansion of its partnership with Dollar General (DG). The plan includes adding 1,500 Redbox kiosks over the next two years, increasing the total to over 5,000 kiosks by the end of 2024. This expanded access aims to cater to value-conscious consumers, especially as the demand for DVD rentals is expected to rise with the release of 39 major films in 2023, including titles like Spider-Man: Across the Spider-Verse and Guardians of the Galaxy Vol. 3. The expansion represents a strategic move to provide affordable entertainment options to millions of Americans amidst economic challenges.

Dollar General (NYSE: DG) has launched its new Beauty Reinvention initiative, introducing a revamped beauty shopping experience in around 300 stores. This rollout includes over 1,000 new beauty, skin, and hair care products, including three exclusive lines: Joy Works, Curl Rhythm, and yes! honey, all priced at $6 or less. The new layout increases space for skincare by 50% and for soap and shower items by 30%. Launched in February 2023, the initiative aims to provide affordable, quality beauty products, reflecting Dollar General's commitment to customer needs. These enhancements are expected to reposition Dollar General as a key player in the beauty retail sector.

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.