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☆ Dollar General's brand is showing some cracks and may be a warning sign ahead of earnings
▼ + stars: | 2024-03-12 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +7 min

In collecting this data, the firm saw a deterioration in the Dollar General brand last year. As of Monday's close, Dollar General's stock is up more than 57% from a 52-week low of $101.09 reached in mid-October. Their research found that consumers felt the cleanliness of Dollar General's stores, a top five driver of satisfaction, lagged key peers Dollar Tree and Family Dollar, and fell 2% further in February. Until November, shoppers rated Family Dollar and Dollar General's product offerings more or less on a par with each other. In addition to Dollar General's own challenges, all dollar stores are likely being hurt by weaker spending among low income consumers.

Persons: Vasos, what's, Todd Vasos, Jeff Owen, Gordon Haskett, Chuck Grom, Grom, bode, Piper Sandler, Peter Keith, Keith, Morgan Stanley, Simeon Gutman, Gutman, Michael Lasser, Lasser, Matthew Boss, — CNBC's Michael Bloom Organizations: Dollar, DG, Occupational Safety, Health Administration, SNAP, UBS, JPMorgan

☆ Facing fines, cluttered aisles and late-night mockery, Dollar General's returning CEO tries to drive a turnaround
▼ + stars: | 2023-12-07 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

The exterior of a Dollar General convenience store is seen in Austin, Texas, on March 16, 2023. Dollar General has gotten hit by steep fines for safety violations, slammed on late-night TV and even overruled by its own shareholders. Dollar General may have topped Wall Street's fiscal third-quarter expectations, but it has had a tough year. Shares of Dollar General closed Wednesday at $133.92, down by about 46% so far this year. On a recent episode of HBO's "Last Week Tonight with John Oliver," the comedian ridiculed Dollar General and its rival, Dollar Tree .

Persons: Todd Vasos, Vasos, Jeff Owen, Michael Calbert, John Oliver, I've, whittle Organizations: Dollar, LSEG, federal, Safety, Health Administration, OSHA, CNBC PRO Locations: Austin , Texas

Wall Street's three major indexes opened higher but lost ground after a preliminary reading on U.S. consumer sentiment showed a sharp fall in October. The moves in bonds, equities and oil reflect worries about deteriorating consumer sentiment, the global economy and geopolitical conflict, she added. However, for the week the S&P 500 registered a 0.45% gain for its second weekly advance in a row. The S&P 500 Banks index (.SPXBK) pared gains as the day wore on to close up 0.6% after rising as much as 3.4% to a three-week high. The S&P 500 posted 12 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 28 new highs and 335 new lows.

Persons: Brendan McDermid, Wells, Wall, Dow, Israel, Lauren Goodwin, Goodwin, Patrick Harker, Todd Vasos, Jeff Owen, advancers, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Shounak Dasgupta, Anil D'Silva, Shinjini Ganguli, Richard Chang Organizations: New York Stock Exchange, REUTERS, JPMorgan, Dow, Nasdaq, The United Nations, Treasury, New York Life Investments, Dow Jones, JPMorgan Chase, Citigroup, Federal Reserve Bank of Philadelphia, BlackRock, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Gaza, Israel, BLK.N, Bengaluru

☆ Dollar General bets on old boss’s old magic
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Oct 13 (Reuters Breakingviews) - Dollar General (DG.N) is reaching back to happier days. In that time, shares plummeted 60%, compared to rival Dollar Tree’s (DLTR.O) gentler decline of roughly a fifth. Meanwhile, Dollar General has repeatedly missed analyst expectations as net profit margin fell from nearly 7% to estimates of 3% for this quarter, according to LSEG. Under his previous stint from 2015 until 2022, shares returned an annualized 19%, beating Dollar Tree, Walmart (WMT.N) and Big Lots (BIG.N). Dollar General faces plenty of challenges shared by all retailers, from rising wages to shifting consumer spending.

Persons: Todd Vasos, Jeff Owen, Vasos, Walt Disney, Bob Iger, Howard Schultz, outperforming, doesn’t, Jennifer Saba, Larry Fink, Uncle Sam, Jonathan Guilford, Sharon Lam Organizations: Reuters, Walmart, Walt, Starbucks, X, Infosys, Thomson Locations: Europe

☆ Buy this beaten-down discount retailer after a major leadership change, Gordon Haskett says
▼ + stars: | 2023-10-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Dollar General 's latest leadership change could help re-stabilize the company and put it on track toward growth again, according to research firm Gordon Haskett. Analyst Chuck Grom upgraded shares to buy from hold in a Friday note. He also established a price target to $140, which implies shares could rally 37% over the next 12 months. Following Thursday's close, Dollar General announced former CEO Todd Vasos would be returning and replacing Jeff Owen as chief executive, effective immediately. "Taking these factors into consideration, we think Dollar General should undertake a significant margin re-set in 2024 to pave the way for a return to both comp and EBIT dollar growth in FY25 (and beyond).

Persons: Gordon Haskett, Chuck Grom, Thursday's, Todd Vasos, Jeff Owen, Owen, Grom, Vasos, — CNBC's Michael Bloom Organizations: Dollar General, DG

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Dollar General, Amazon, Meta, SolarEdge & more
▼ + stars: | 2023-10-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

HSBC initiates American Express as buy HSBC said it sees healthy earnings growth for American Express . Mizuho reiterates Meta as buy Mizuho said it's standing by its buy rating heading into earnings later this month. Bernstein reiterates Tesla as underperform Bernstein concluded in an analysis of Tesla that the company is more of an automaker than a tech company. Barclays upgrades Varonis Systems to overweight from equal weight Barclays said it sees numerous positive catalysts ahead for the software company. Northland upgrades SolarEdge to outperform from market perform Northland said investors should buy the dip in shares of SolarEdge .

Persons: Cowen, NVDA, Mizuho, Stephens, Bernstein, Tesla, underperform Bernstein, Warren Buffett, Hershey, Morgan Stanley downgrades JD.com, Morgan Stanley, Gordon Haskett, Todd Vasos, Jeff Owen, Read, Wolfe, today's, Baird, Needham, Oppenheimer, Wells, LULU, Meghan Frank, Howard Tubin Organizations: HSBC, American, American Express, Bank of America, Nvidia, Meta, Barclays, Varonis, Hershey, JPMorgan, Post Holdings, Netflix, Citi, Oshkosh, Lam Research, Materials, Supply, VP Locations: 4Q22, Northland, SolarEdge, Israel, California

The exterior of a Dollar General convenience store is seen in Austin, Texas, on March 16, 2023. Dollar General's former CEO Todd Vasos is coming out of retirement to helm the company, which aims to rebound from slowing growth and allegations of unsafe working conditions. During that time, Dollar General has seen a slowdown in its sales growth and has faced criticism from federal officials and activists for having unsafe stores that put employees at risk. Dollar General has more than 185,000 full- and part-time employees. Dollar General shares jumped more than 6% in extended trading Thursday.

Persons: Todd Vasos, Jeff Owen, Jeff, Michael Calbert, Owen Organizations: Company, Dollar Locations: Austin , Texas

☆ Dollar General brings former CEO Todd Vasos back to lead the struggling retailer
▼ + stars: | 2023-10-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Dollar General has brought back its former chief executive in an attempt to revive its struggling business. On Thursday, the discount chain announced that it had reinstated Todd Vasos as CEO, replacing Jeff Owen. Shares of Dollar General, which have been under pressure this year, surged in after-hours trading Thursday after the announcement. Earlier this year Dollar General workers protested over unsafe working conditions at the store.. Conversely, during Vasos’ seven years as CEO, Dollar General more than doubled its market capitalization.

Persons: Todd Vasos, Jeff Owen, Vasos, Owen, ”, Michael Calbert, Neil Saunders, Oppenheimer, Rupesh Parikh Organizations: CNN, “

☆ Inflation pushed the wealthy to shop at dollar stores. Now even those places are seeing people get tighter with their money.
▼ + stars: | 2023-09-27 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

During the pandemic, more people with higher incomes started shopping at dollar stores. They keep shopping in dollar stores, but they spend more time in the aisles with the most important products. In mid-2022, both Dollar General and Dollar Tree reported increased sales and noticed a rise in high-income customers. But now, in addition to lower sales, Dollar General is dealing with an overflow of inventory. Alex Bitter/InsiderOther businesses benefited from inflationThis recent surge in wealthier customers is not limited to just dollar stores.

Persons: —, Jeff Owen, Owen, Justin Sullivan, Mike Witynski, Witynski, General's, Todd Vasos, Alex Bitter, Chipotle Organizations: Shoppers, Service, Dollar, Wall Street, Wall Street Journal, CNN, Walmart

☆ In Lululemon and Dollar General earnings, signs of a possible economic split
▼ + stars: | 2023-09-02 | by ( Samantha Delouya | ) edition.cnn.com time to read: +4 min

One reported strong sales on Thursday, while the other warned it may experience a sales decline for the year. Dollar General’s earnings report on Thursday painted a different picture. “Core customers continue to tell us they feel financially constrained,” said Dollar General’s CEO, Jeff Owen, on the company’s earnings call. Brian Nagel, a retail analyst at Oppenheimer & Co. who covers Lululemon, said he sees still strong spending across all retailers he covers. “Generally speaking, consumer spending has held in,” he said.

Persons: CNN —, ”, Calvin McDonald, Lululemon, Jeff Owen, Neil Saunders, Brian Nagel, Nagel, ” Nagel, Richard Dreiling, John Rainey, ” Rainey, Shannon Seery Organizations: CNN, Oppenheimer, Co, Federal Reserve, Fed Locations: Wells, United States, —

☆ Thriving US makes Dollar General a tougher sell
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 31 (Reuters Breakingviews) - The U.S. economy’s gain is shaping up to be Dollar General’s (DG.N) loss. Dollar General sales grew a record 16.3% when Covid-19 slammed the U.S. in 2020, but rose only 2.5% when the economy reopened in 2021. During the recession years of 2008 and 2009, sales grew 9% and 9.5%, respectively. Dollar General now reckons earnings in the year to January 2024 could fall as much as 34%, compared to a previous estimate of a drop of up to 8%. Dollar General’s valuation is still far from discounted.

Persons: Jeff Owen, Ben Winck, Pernod Ricard, Peter Thal Larsen, Sharon Lam Organizations: Reuters, Atlanta Federal, X, Microsoft, Thomson

☆ Dollar General's messy stores are haunting the retailer as it takes a $95 million hit on inventory markdowns and deploys 'smart teams' to clean up
▼ + stars: | 2023-08-31 | by ( Alex Bitter | Mary Hanbury | ) www.businessinsider.com time to read: +4 min

Dollar General is trying to cut down on excess inventory to tame its messy stores. "We believe it will drive traffic and also more quickly reduce excess inventory," Owen said on the call. To clean up its stores, Dollar General is also deploying "smart teams," or groups of employees who move between multiple stores to organize excess inventory, Owen said. Aisles at many Dollar General stores have been clogged with everything from dog food to school supplies over the last few years. That's led to multiple problems, such as local fire marshals closing Dollar General stores because merchandise is blocking fire exits.

Persons: Jeff Owen, Owen, Neil Saunders, That's Organizations: Service, Dollar, GlobalData Retail, Employees Locations: Wall, Silicon, Texas

☆ People are spending more on groceries. But they’re buying less
▼ + stars: | 2023-06-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7. The following month, grocery prices continued to fall. But food inflation is still outpacing inflation overall, and grocery prices are still quite a bit higher than they were last year. We are still seeing prices, month over month, they’re still going up — although much less than they were.”— CNN’s Nathaniel Meyersohn contributed to this report.

Persons: that’s, ”, Alastair Steel, Spencer Platt, they’ve, Steel, “ we’ve, Richard Galanti, Jeff Gennette, “, Brandon Bell, Jeff Owen, Ramon Laguarta, it’s, they’re, —, Nathaniel Meyersohn Organizations: New, New York CNN, Kellogg, PepsiCo, Getty, Steel, Costco, Aldi, ”, Dollar, Assistance, SNAP, Consumers, Bureau of Labor Statistics, BLS Locations: New York

☆ Premarket stocks: The uber-wealthy are doing just fine and Wall Street is cashing in
▼ + stars: | 2023-06-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But that’s not the case for everyone: The ultra-wealthy are doing just fine, and Wall Street firms are taking advantage of that. Germany, the largest economy in Europe, has slipped into recession as energy price shocks took their toll on consumer spending. In the past 10 weeks, JPMorgan Global Wealth Management opened 40,000 new accounts. Last year, it added around one new client with assets of $100 million or more per day, Mary Erdoes, head of asset and wealth management at the bank, told investors last week. Dollar General customers turn to food banksDollar General (DG) stock had one of its worst days ever on Thursday.

Persons: New York CNN —, that’s, JPMorgan Chase, Andy Cohen, Mary Erdoes, It’s, Goldman Sachs, Louis Vuitton, Dom Pérignon, Dior, Huw Roberts, Hermes —, Roberts, ”, Erwan, “, Gregory Daco, Allison Morrow, Jeff Owen, Owen, Cash, They’re, Elisabeth Buchwald, Treasury hasn’t, Biden Organizations: CNN Business, Bell, New York CNN, Wall, JPMorgan, Bloomberg, JPMorgan Global Wealth Management, Citigroup, International Monetary Fund, Lamborghini, HSBC, EY, Dollar, Treasury, US Treasury Locations: New York, China, United States, Germany, Europe, BlackRock

☆ Dollar General stock plunges as 'challenging' economic backdrop drives dismal earnings report
▼ + stars: | 2023-06-01 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +2 min

Dollar General's core customers are reining in their spending amid a worse-than-expected macroeconomic backdrop, leading the discounter to slash its full-year outlook after a dismal earnings report Thursday. Shares of Dollar General plunged nearly 20% in morning trading after the retailer missed estimates on the top and bottom lines. It now expects net sales to rise between 3.5% and 5%, compared with a previous range of 5.5% to 6% growth. It anticipates same-store sales will increase about 1% to 2%, compared with a previous range of 3% to 3.5%. Analysts had been expecting earnings per share to be up 4.3%, according to Street Account.

Persons: Jeff Owen Organizations: Refinitiv, Research

☆ Dollar General customers are turning to food banks, CEO says
▼ + stars: | 2023-06-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Dollar General’s stock just had one of its worst days ever on Wall Street. But Dollar General’s worse-than-expected results point to a more-troubling reality for the nation’s consumer-dependent economy. When Dollar General’s core customers feel strained, they pull back completely. “Unfortunately, our customers are saying they’re having to rely more on food banks, savings, credit cards,” CEO Jeff Owen said on a call with analysts Thursday. Dollar General’s downbeat earnings also underscore the extreme disparity in how inflation is felt among high-income versus low-income shoppers.

Persons: CNN Business ’, Jeff Owen, Owen, haven’t, you’ve, That’s, ”, Neil Saunders, you’ll Organizations: CNN Business, New York CNN, Dollar, Macy’s, Costco, Target, Walmart, National Bureau of Economic Research, Consumers, US Locations: New York, West Elm

☆ Dollar General enters the retail 'labor hoarding' war with a $100 million investment to boost scheduled hours for employees
▼ + stars: | 2023-03-17 | by ( Dominick Reuter | Alex Bitter | ) www.businessinsider.com time to read: +3 min

Discount retailer Dollar General is the latest employer to join the industry's "labor hoarding" war. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyRetail's "labor hoarding" war now has a General — Dollar General, that is. CEO Jeff Owen told investors to expect an additional investment of approximately $100 million in 2023 as the company aims to boost scheduled hours for store associates. Rolltainers full of candy, toilet paper, and other dry goods sit in cage-like rolltainers outside of a Dollar General store in Minnesota. Insider sourceKeeping shelves stocked and unpacking inventory has been a problem for many Dollar General locations.

☆ Dollar General is luring more shoppers with its cheap groceries — but it might be backfiring
▼ + stars: | 2023-03-16 | by ( Mary Hanbury | Alex Bitter | ) www.businessinsider.com time to read: +4 min

While more people are shopping for groceries at Dollar General, other categories are suffering. Dollar stores, in general, have been gaining market share in the grocery sector as inflation bites and shoppers look for cheaper alternatives. According to a recent report from Coresight Research, Dollar Tree and Dollar General ranked in the top five retailers from which consumers bought food in 2022. Dollar General shoppers are still employed but are "relying more on savings, credit cards, and, quite frankly, borrowing money from friends," Dollar General CEO Jeff Owen said on Thursday during the company's fourth-quarter earnings call. "While Dollar General has been steadily improving the offer ... there is still more work to do to improve the proposition," he said Thursday.

☆ Dollar General wants to be your bank
▼ + stars: | 2023-02-10 | by ( Alex Bitter | ) www.businessinsider.com time to read: +2 min

Dollar General is pushing farther into financial services for its customers. Dollar General has added banking services over the past year, taking it beyond discount retail. Customers "want and need" financial services like the ones Dollar General is offering, CEO Jeff Owen said on a May earnings call. A Dollar General spokesperson confirmed that the list is current, but declined to offer additional comment. Do you work at Dollar General or have information to share?

☆ Dollar General, Family Dollar, and Dollar Tree are taking over the US with more new stores than any other retailer — and it reveals a shift in how Americans are shopping
▼ + stars: | 2023-01-03 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Dollar General announced more than 1,000 store openings in 2022, per company Coresight Research. Other companies that opened many stores in 2022 include Aldi, Ross Dress For Less, and Five Below. And discount stores have reaped the benefits: Dollar General's stock soared to an all-time high in November 2022, for example. With so many people looking to save money, discount stores led the pack for retailers in opening new locations next year. Dollar General — 1,024 storesDollar General.

☆ Dollar General cuts annual profit view as costs surge
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

Freight, labor and other supply chain-related costs have jumped for U.S. retailers, while excess inventory levels have also forced them to offer deep discounts to spur demand. While margins have been pressured across the retail industry, Tennessee-based Dollar General said it was also seeing inefficiencies within its own supply chain. Unexpected delays in acquiring additional warehouse space to store inventory resulted in higher-than-expected distribution and transportation costs, according to the company. Dollar General, which in July named insider Jeff Owen its new chief executive, saw its gross margin fall by 27 basis points to 30.5% in the third quarter. Dollar General now expects fiscal 2022 earnings per share to increase about 7% to 8%, compared with its prior outlook of a rise of about 12% to 14%.

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