Dollar General Reports Q1 Earnings that Beat Analyst Estimates
After market close today, Dollar General (NYSE: DG) reported adjusted Q1 earnings per share of 63 cents that beat analyst estimates of 60 cents. The company also reported revenues of $3.9 billion as compared to analyst expectations of approximately $3.8 billion.
Moreover, Dollar general raised its full-year earnings per share projections by 3 cents. Management now estimates that full-year 2012 earnings per share will fall in the $2.68-$2.78 range, up from a previous range of $2.65-$2.75. This new range contained analyst expectations of $2.77.
In Dollar General's earnings conference call, management explained that apparel has been an expected area of difficulty for the firm. The company is struggling on revenues from apparel, but is seeing improvements in units sold. Also, management discussed its new, larger Dollar General Plus stores that contain more consumables.
Shares of Dollar General traded around 2.7% lower in after hours. Competing discount retailer Dollar Tree (NASDAQ: DLTR) also traded lower in after hours, down around 2%.
Disclosure: At the time of this writing, I did not own shares of any companies mentioned in this post.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.