Dollar General Corp. (NYSE:DG) fell in Tuesday trade, after the company lowered its full-year forecast. Dollar General posted in-line Q3 earnings, while sales exceeded views.
The company, based in Goodlettsville, Tenn., reported net sales increased 8.7%; while same-store sales increased 2.8%. Diluted Earnings per Share increased 35.5% to $1.26, including an estimated $0.05 net-negative impact from hurricane-related expenses and greater-than-anticipated other disaster-related expenses
DG also reported that cash flows from operations increased 32.5% to $1.5 billion. The board also declared a fourth-quarter 2018 cash dividend of $0.29 per share.
According to CEO Todd Vasos, "Despite the challenges created by these weather events in the quarter, we achieved strong top-line growth and remained focused on expense control.
"Both consumables and non-consumables categories drove our financial performance this quarter, and we achieved our highest two-year same-store-sales stack in 11 quarters."
The Company repurchased $298 million of its common stock, or 2.8 million shares, under its share repurchase program in the third quarter of 2018, at an average price of $107.55 per share.
Since the program started seven years ago, the Company has repurchased 87.9 million shares of its common stock at an average price of $65.93 per share, for a total cost of $5.8 billion.
Shares slid six dollars, or 5.4%, to $105.70
