Why Dollar General's Shares Plunged 8.4% Today
Shares of Dollar General (NYSE: DG) fell by as much as 8.4% in trading on Thursday after the discount retailer reported its fiscal second-quarter financial results. The stock had bounced off that low by midday, but was still down by 4% as of 1 p.m. EDT.
For the quarter, which ended July 30, sales declined 0.4% to $8.7 billion while same-store sales fell by 4.7%. Sales were up 14.1% on a same-store basis versus two years ago, reflecting that some of the period's decline can be chalked up to a reversal of pandemic-related gains. Net income was down 19.1% to $637.0 million, or $2.69 per share.
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Source Fool.com
