DOLLAR GENERAL CORP (DG) SEC Filing 10-Q Quarterly report for the period ending Friday, November 3, 2017

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Exhibit 99

Dollar General Corporation Reports Third Quarter 2017 Financial Results

  • Net Sales Increased 11.0%; Same-Store Sales Increased 4.3%, Including an Estimated 30 to 35 Basis Point Net Benefit from Hurricane-Related Sales
  • Diluted Earnings Per Share of $0.93, Including an Estimated $0.05 Hurricane-Related Net Negative Impact
  • $512 Million of Capital Returned to Shareholders Year to Date Through the Third Quarter
  • Board of Directors Declares Fourth Quarter 2017 Dividend
  • Company Narrows Fiscal 2017 GAAP Diluted Earnings per Share Guidance Range to $4.37 to $4.47, Including the Estimated Hurricane-Related Net Negative Impact of $0.05 in the 2017 Third Quarter; Updates Other Fiscal 2017 Guidance

GOODLETTSVILLE, Tenn.--(BUSINESS WIRE)--December 7, 2017--Dollar General Corporation (NYSE: DG) today reported financial results for its fiscal 2017 third quarter (13 weeks) ended November 3, 2017.

“We are pleased with our overall third quarter results, which include a strong same-store sales growth of 4.3% and increases in both average transaction amount and customer traffic over the 2016 third quarter. During the quarter, we effectively balanced our same-store sales growth while achieving gross profit rate expansion and continuing our planned investments in the business.

“We remain excited about the future for Dollar General. For fiscal 2018, we have plans to execute approximately 2,000 real estate projects comprised of 900 new stores, 1,000 store remodels and 100 store relocations. We continue to believe that investing in the business through our high-return new store growth is the best use of our capital to help drive long-term shareholder value. Our new store growth is complemented with a significant increase in our store remodel program from fiscal 2017 that we view as an investment to enhance and consistently deliver on our brand promise to help our customers save time and money every day,” said Todd Vasos, Dollar General’s chief executive officer.

Third Quarter 2017 Highlights

Net sales increased 11.0 percent to $5.90 billion in the 2017 third quarter compared to $5.32 billion in the 2016 third quarter. Same-store sales increased 4.3 percent, attributable to increases in average transaction amount and customer traffic, including an estimated 30 to 35 basis point net benefit from hurricane-related sales. Same-store sales increases were driven by positive results in the consumables, seasonal and apparel categories, partially offset by negative results in the home products category. Same-store sales results in the three non-consumables categories, when aggregated, were positive. The net sales increase was also positively affected by sales from new stores, modestly offset by sales from closed stores.


The following information was filed by DOLLAR GENERAL CORP on Thursday, December 7, 2017 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Click a sentiment analysis snippet below from DG's Management Discussions to find these positive and negative remarks within their 10-Q Quarterly report:
  • dg_10q_2017-12-07_1_1
    Financial - Earnings
    non-consumables, which tend to have higher gross margins, have contributed to profitable sales growth.
  • dg_10q_2017-12-07_3_25
    Financial - Earnings
    Gross profit, as a percentage of net sales, was 29.9% in the 2017 period compared to 29.8% in the 2016 period, an increase of 8 basis points, primarily reflecting higher initial markups on inventory purchases and an improved rate of inventory shrinkage, among other factors discussed below.
  • dg_10q_2017-12-07_1_3
    Financial - Earnings
    We expect the trends of consumables, and lower margin consumables, comprising a larger percentage of our sales to continue throughout at least the remainder of the year and potentially into 2018.
  • dg_10q_2017-12-07_4_26
    Financial - Expense
    SG&A expense, as a percentage of net sales, was 22.9% in the 2017 period compared to 22.5% in the 2016 period, an increase of 40 basis points, reflecting increased retail labor, incentive compensation and occupancy costs as well as hurricane-related costs, among other factors discussed below.
  • dg_10q_2017-12-07_16_22
    Financial - Shares / Equity
    A $500 million share repurchase program was publicly announced on September 5, 2012, and increases in the authorization under such program were announced on March 25, 2013 $500 million increase, December 5, 2013 $1.0 billion increase, March 12, 2015 $1.0 billion increase, December 3, 2015 $1.0 billion increase and August 25, 2016 $1.0 billion increase.
  • dg_10q_2017-12-07_20_35
    Other - Other
    effective response to competitive pressures and changes in the competitive environment and the markets where we operate, including, but not limited to, pricing, consolidation and omnichannel shopping
  • dg_10q_2017-12-07_1_2
    Revenue - Product
    In addition, during the first three quarters of 2017, our mix of consumables sales has continued to shift somewhat toward lower margin consumable departments such as perishables and tobacco.
  • dg_10q_2017-12-07_18_33
    Revenue - Geography
    failure to successfully execute our strategies and initiatives, including those relating to merchandising, marketing, real estate, sourcing, shrink, private brand, distribution and transportation, store operations, store formats, budgeting and expense reduction, and technology
  • dg_10q_2017-12-07_2_6
    Revenue - Product
    Sales in same-stores increased 4.3% due to increases in average transaction amount and customer traffic.
  • dg_10q_2017-12-07_33_48
    Other - Other
    deterioration in market conditions, including market disruptions, limited liquidity and interest rate fluctuations, or a lowering of our credit ratings
  • dg_10q_2017-12-07_19_34
    Financial - Earnings
    failure to open, relocate and remodel stores profitably and on schedule, as well as failure of our new store base to achieve sales and operating levels consistent with our expectations
  • dg_10q_2017-12-07_14_19
    Other - Other
    Based on this evaluation, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report.
  • dg_10q_2017-12-07_2_5
    Revenue - Product
    Net sales increased 11.0% to $5.9 billion.
  • dg_10q_2017-12-07_5_27
    Financial - Expense
    Interest expense increased by $0.1 million to $24.0 million in the 2017 period.

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Exhibit 10.1 - MATERIAL CONTRACT

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Exhibit 10.2 - MATERIAL CONTRACT

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Exhibit 15 - LETTER REGARDS UNAUDITED INTERIM FINANCIAL INFORMATION

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Exhibit 31 - RULE 13A-14A/15D-14A CERTIFICATION

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Exhibit 32 - SECTION 1350 CERTIFICATION

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  • Form Type: Quarterly
  • Number of times amended: 0
  • Accession Number: 0001558370-17-009219
  • Submitted to the SEC: Thursday, December 7, 2017
  • Accepted by the SEC: Thursday, December 7, 2017
  • Period Ending: November 2017
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