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Discount retailer Dollar General (DG) is getting a lift on its first-quarter earnings beat, reporting $9.91 billion in revenue ($9.88 billion expected) and adjusted earnings of $1.65 per share ($1.57 expected). Dollar General's same-store sales have risen 2.4% year-over-year, an integral part of the store's decision to reaffirm its full-year guidance.
Loop Capital Markets Managing Director Anthony Chukumba details what retail earnings have been indicating about the US consumer and where Dollar General fits into Americans' budgets in this inflationary environment.
"Dollar General is kind of at an interesting sort of point right now because, remember, like last year was an absolute positive dumpster fire for Dollar General — comps were declining for most of the year, they got a lot of really, really bad press," Chukumba tells Yahoo Finance. "And basically what they ended up doing was bringing back their CEO Todd Vasos, and now they're in this sort of turnaround mode. A lot of that is trying to improve the in-store experience."
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This post was written by Luke Carberry Mogan.