** charts after earnings **
Dollar General beats by $0.01, reports revs in-line; narrows FY16 EPS; lowers sales, comp guidance; promotes John Garrat to CFO; adds $1 bln to buyback :
- Reports Q3 (Oct) earnings of $0.88 per share, excluding non-recurring items,$0.01 better than the Capital IQ Consensus of $0.87; revenues rose 7.3% year/year to $5.07 bln vs the $5.09 bln Capital IQ Consensus.
- Same-store sales increased 2.3% compared to the 2014 third quarter, with increases in both customer traffic and average transaction value. The remainder of the sales increase was attributable to sales from new stores, partially offset by sales from closed stores. All merchandise categories delivered positive same-store sales growth. Sales of consumables increased at a higher rate than sales of non-consumables in the 2015 third quarter, with the more significant growth driven by candy and snacks, tobacco products and perishables. The most significant growth within the non-consumables category was due to sundries, housewares, and hardware, with ladies clothing exhibiting strong growth as well.
- Co issues in-line guidance for FY16, sees EPS of $3.88-3.93, excluding non-recurring items, vs. $3.92 Capital IQ Consensus Estimate; sees FY16 revs +8% (from +8-9%) to ~$20.42 bln vs. $20.42 bln Capital IQ Consensus; comps +2.5-2.8% from +3-3.5%.
- Co announced the promotion of John W. Garratt to executive vice president and chief financial officer, effective December 2, 2015. Garratt has served as Dollar General's interim CFO since June 2015 and previously served as its senior vice president of finance and strategy since joining the Company in October 2014. Additionally, Anita C. Elliott, senior vice president and controller at Dollar General since 2005, has been appointed chief accounting officer (:CAO).
- Co's Board of Directors authorized an additional $1.0 billion for share repurchases, increasing the total authorization for future repurchases to $1.2 billion. The authorization has no expiration date.
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