Dollar General 二季度业绩超预期并上调全年 EPS 指引，盘前大涨

Dollar General Corporation (DG) soared in early trading on Thursday after sailing past estimates with its second-quarter earnings report and lifting its prior full-year profit guidance.
Revenue increased 5.6% year-over-year during the quarter that ended on July 31 to $11.3B. The Chesapeake, Virginia-based company highlighted that the increase was driven by growth in same-store sales and positive sales contributions from new stores, partially offset by the impact of store closures.
Same-store sales increased 3.5% during the quarter. The same-store sales growth reflected increases of 2.0% in customer traffic and 1.5% in average transaction amount. Same-store sales included growth in each of the consumables, seasonal, home products, and apparel categories.
Gross profit as a percentage rose 127 basis points to 32.6% of sales. The gross profit rate improvement was primarily attributable to tariff refunds, a lower LIFO provision, and lower distribution costs, partially offset by increased markdowns and increased transportation costs. The company estimates the gross margin benefit of tariff refunds, after related reinvestments, was approximately 81 basis points. Operating profit rose 29.2% from a year ago. EPS was reported at $2.48 vs. $2.01 consensus and $1.86 a year ago.
At the end of the quarter, total merchandise inventories, at cost, were $6.6B, a decrease of 2.7% on an average per-store basis.
"Our results reflect continued momentum across the business, including our fifth consecutive quarter of customer traffic growth and the sixth consecutive quarter of positive comparable sales growth across all four merchandising categories. This broad-based performance reflects the strength of our unique combination of value and convenience and the important role Dollar General plays in the communities we serve. As we move through the back half of the year, we remain confident in our strategy, our long-term financial framework, and our ability to continue driving value for our customers, associates, and shareholders," highlighted CEO Todd Vasos.
The retailer sees full-year revenue growth of +4.0% to +4.3% and full-year EPS of $7.80 to $8.00 (midpoint $7.90) vs. $7.40 consensus. Dollar General (DG) also reiterated its plans to execute approximately 4,730 real estate projects in FY26, including opening approximately 450 new stores in the United States and approximately 10 new stores in Mexico, remodeling approximately 2,000 stores through Project Renovate, remodeling approximately 2,250 stores through Project Elevate, and relocating approximately 20 stores.
Shares of Dollar General (DG) rallied 11.7% in premarket trading, while Dollar Tree (DLTR) fell 4.9% after releasing its second-quarter results that did not keep up with its rival. Five Below (FIVE) is on watch.