Dollar General Reports Mixed Fiscal 2024 Results

Dollar General Corp ( (DG) ) has released its Q4 earnings. Here is a breakdown of the information Dollar General Corp presented to its investors.

Dollar General Corporation, a leading American retail chain known for providing affordable everyday essentials, has released its financial results for the fourth quarter and fiscal year 2024. The company operates in the discount retail sector, serving customers through its extensive network of stores across the United States and Mexico.

In its latest earnings report, Dollar General reported a 4.5% increase in net sales for the fourth quarter, reaching $10.3 billion, and a 5.0% increase for the fiscal year, totaling $40.6 billion. However, the company faced a significant decline in operating profit, which decreased by 49.2% in the fourth quarter and 29.9% for the fiscal year. This was largely due to charges related to a store portfolio optimization review, which included store closures and impairment charges.

Key financial metrics showed mixed results, with same-store sales increasing by 1.2% in the fourth quarter and 1.4% for the fiscal year. Despite these gains, the company’s diluted earnings per share (EPS) fell by 52.5% in the fourth quarter and 32.3% for the fiscal year. On a positive note, annual cash flows from operations rose by 25.3% to $3.0 billion, and the board declared a quarterly cash dividend of $0.59 per share.

Looking ahead, Dollar General’s management remains optimistic about the company’s strategic initiatives and financial outlook for fiscal 2025. The company plans to continue its expansion with 575 new store openings in the U.S. and up to 15 in Mexico, alongside significant store remodels. Management is confident in delivering value and convenience to customers, aiming for sustainable long-term growth and shareholder value.