Dollar General’s Same-Store Sales Decline Less Than Feared
- Chain’s profit also tops estimates but down most in five years
- CEO cites ‘significant headwind’ from inventory shrink
A Dollar General store in Germantown, New York.
Photographer: Angus Mordant/BloombergDollar General Corp. reported comparable sales that were better than the average analyst estimate, a sign that Chief Executive Officer Todd Vasos is having some early success in improving results after taking the helm for a second time in October.
The results come after the company cut its annual earnings forecast in August and said it was planning significant investments to improve the shopping experience. Two months later, Dollar General ousted former CEO Jeff Owen after less than a year in the role and cut sales guidance for a second time, noting a need to “restore stability and confidence.” Owen was replaced by Vasos, who served as CEO from 2015 to 2022 and oversaw a doubling in annual revenue.