Discount retailer, Dollar General Corporation (DG - Free Report) came out with third-quarter fiscal 2016 results, wherein earnings of 84 cents a share missed the Zacks Consensus Estimate of 92 cents and also declined 2.3% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has witnessed downtrend in the last 30 days. However, in the trailing four quarters, excluding quarter under review, the company outperformed the Zacks Consensus Estimate by an average of 3%.
Revenues: Dollar General generated net sales of $5,320 million that increased 5% year over year but fell short of the Zacks Consensus Estimate of $5,366.4 million. Same store sales slipped 0.1% for the quarter.
Key Events: The company bought back 2.9 million shares during the third quarter of fiscal 2016. Since the commencement of the share repurchase program in Dec 2011, the company has bought back 70.2 million shares aggregating $4.3 billion. At the end of third-quarter fiscal 2016, the company has an outstanding authorization of nearly $1.2 billion.
Zacks Rank: Currently, Dollar General carries a Zacks Rank #4 (Sell) which is subject to change following the earnings announcement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Dollar General’s shares are down nearly 5% during pre-market trading hours following the earnings release.
Check back later for our full write up on Dollar General’s earnings report!
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