Why Dollar General Stock Only Traded Sideways Today
On the back of slightly discouraging news, Dollar General (NYSE: DG) stock traded down in early action on Thursday before recovering. By the end of the day it had landed in positive territory, but only slightly, closing 0.1% higher in price. At least that was good enough to top the S&P 500 index on the day, as that stock market bellwether fell by 0.2%.
Dollar General's major Thursday news item was its third-quarter results, which were unveiled hours before market open. For the period, the budget retailer managed to increase its net sales by 5% year over year to $10.2 billion, on same-store sales that grew by slightly over 1%.
Traveling in quite the opposite direction was GAAP net income; this landed at $196.5 million, or $0.89 per share, from the year-ago profit of over $276 million for a queasy 29% drop.
Source Fool.com
