Dollar General Corp (MEX:DGG)
MXN 1585 0 (0%) Market Cap: 359.23 Bil Enterprise Value: 688.27 Bil PE Ratio: 13.10 PB Ratio: 2.55 GF Score: 73/100
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Q2 2024 Dollar General Corp Earnings Call Transcript

Aug 29, 2024 / 02:00PM GMT
Release Date Price: MXN1714.54 (-29.30%)

Key Points

Positve
  • Net sales increased by 4.2% to $10.2 billion in Q2.
  • Dollar General Corp (DG) continues to grow market share in highly consumable product sales.
  • Increased employee presence and improved in-stock levels in stores.
  • Significant progress in optimizing distribution capacity and improving on-time and in-full truck deliveries.
  • Reduction in total inventory by 7% compared to the prior year, with a focus on maintaining quality.
Negative
  • Same-store sales increased only by 0.5%, below expectations.
  • Gross profit as a percentage of sales decreased by 112 basis points due to increased markdowns and inventory damages.
  • Increased promotional activity has pressured both sales and gross margin.
  • Shrink continues to be a significant headwind, impacting financial results.
  • Elevated rate of maintenance expenses and higher-than-expected wage rate inflation.
Operator

At this time, I would like to welcome everyone to the Dollar General second quarter 2024 earnings conference call. Today is Thursday, August 29, 2024. (Operator Instructions)

This call is being recorded. Instructions for listening to the replay of the call are available in the company's earnings press release issued this morning.

Now I'd like to turn the conference over to your host, Mr. Kevin Walker, Vice President of Investor Relations. Kevin, you may begin.

Kevin Walker
Dollar General Corp - Vice President of Investor Relations

Thank you, and good morning, everyone. On the call with me today are Todd Vasos, our CEO; and Kelly Dilts, our CFO. Our earnings release issued today can be found on our website at investor.dollargeneral.com, under News and Events.

Let me caution you that today's comments include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, such as statements about our financial guidance, strategy, initiatives, plans, goals, priorities, opportunities, expectations or

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