Why Dollar General Stock Jumped 16% in August
Shares of Dollar General (NYSE: DG) gained 16.5% last month, according to data provided by S&P Global Market Intelligence. The stock surged following a stellar second-quarter earnings report, with revenue and earnings beating analysts' expectations.
For the second quarter, net sales increased by 8.4% year over year, driven by strong comp sales growth of 4%. Most impressive was the strength on the bottom line, with adjusted earnings per share up by 14.5%. Speaking to what drove the strong results, CEO Todd Vasos said, "Our results this quarter were fueled by solid execution across many fronts, including category management, merchandise innovation, store operations, and continued progress with our strategic initiatives."
IMAGE SOURCE: GETTY IMAGES.
Source Fool.com
