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Last $73.56 USD
Change Today +0.27 / 0.37%
Volume 1.9M
DG On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

dollar general corp (DG) Key Developments

Dollar General Corporation Begins Construction on LV Dollar Store

Dollar General Corp. recently began construction on a 9,100-square-foot store at 32510 Highway 18 in Lucerne Valley. The location is at the terminus of Highland Road, near the Lucerne Valley U.S. Post Office.

Former Employee Sues Dollar General

Dollar General is facing a lawsuit from a former employee who worked in its corporate headquarters who says he was fired after blowing the whistle about alleged fraud in the retail giant. Corey McNeley, a director of store operations, filed suit last month in Davidson County Circuit Court. The case has since been moved to federal court. In his suit, Neley claims he was fired after raising concerns about the company's use of coupons that violated the redemption terms agreed to by vendors, according to the Post. The suit claims the value of the alleged fraud is in excess of $8 million.

Dollar General Corporation Announces Promotion of Rhonda Taylor to Executive Vice President

Dollar General Corporation announced that Rhonda M. Taylor, currently senior vice president and general counsel, has been promoted to executive vice president and general counsel.

Dollar General Corporation Announces Retirement of David Tehle as Executive Vice President and Chief Financial Officer

Dollar General Corporation announced that David Tehle, executive vice president and chief financial officer, will retire from Dollar General effective July 1, 2015.

Dollar General Corporation Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014; Announces Initiation of First Quarter Dividend, Payable on April 22, 2015; Provides Earnings Guidance for Fiscal 2015; Plans to Open 730 New Stores in 2015

Dollar General Corporation reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2014. The company's net income for the 2014 fourth quarter was $355 million, or diluted earnings per share of $1.17, compared to net income of $322 million, or diluted EPS of $1.01, in the 2013 fourth quarter. Net sales increased 9.9% to $4.94 billion in the 2014 fourth quarter compared to $4.49 billion in the 2013 fourth quarter. Same-store sales increased 4.9%, resulting from increases in both customer traffic and average transaction amount. Same-store sales increases were driven by strength across all categories with strong growth across candy and snacks, tobacco, perishables and health care. Operating profit was $566,716,000 against $538,122,000 for the same period of last year. Income before income taxes was $545,184,000 against $515,809,000 for the same period of last year. Full year 2014 net sales increased 8.0% to $18.9 billion compared to net sales of $17.5 billion in 2013. Same-store sales increased 2.8%, including increases in both customer traffic and average transaction amount resulting from the refinement of the company's merchandise offerings, including tobacco products and perishables, and increased utilization of store square footage. In addition, both home and apparel categories contributed to same-store sales growth. The company reported net income of $1.065 billion, or diluted EPS of $3.49, for fiscal year 2014 compared to net income of $1.025 billion, or diluted EPS of $3.17, for fiscal year 2013. Adjusted net income increased 3% to $1.069 billion in fiscal 2014 compared to adjusted net income of $1.037 billion in fiscal 2013. Adjusted EPS increased 9% to $3.50 in fiscal 2014 compared to adjusted EPS of $3.20 in fiscal 2013. Total capital expenditures were $374 million. Significant components of property and equipment purchases in 2014 included the following approximate amounts: $127 million for improvements, upgrades, remodels and relocations of existing stores; $102 million for new leased stores; $64 million for distribution and transportation related projects; $38 million for stores built by the Company; and $35 million for information systems upgrades and technology-related projects. Operating profit was $1,769,093,000 against $1,736,185,000 for the same period of last year. Income before income taxes was $1,680,861,000 against $1,628,330,000 for the same period of last year. The company generated significant cash flow from operations of $1.3 billion, an increase of more than 8%. On March 10, 2015, the Board of Directors approved the initiation of a regular quarterly cash dividend to shareholders. The first quarter dividend of $0.22 per share will be payable on April 22, 2015 to shareholders of record of the company's common stock on April 8, 2015. While the Board of Directors intends to continue regular quarterly cash dividends, the declaration and payment of future cash dividends are subject to the Board's discretion. For the 2015 fiscal year, the company expects total sales to increase 8 to 9% over the 2014 fiscal year. Same-store sales are expected to increase 3 to 3.5%. Operating profit for 2015 is expected to increase 7 to 9% over the 2014 adjusted operating profit. The company expects full year interest expense to be approximately $90 million. The full year 2015 effective tax rate of approximately 37 to 38% assumes the reenactment of the WOTC, consistent with 2014. Diluted EPS for the fiscal year is expected to be approximately $3.85 to $3.95, based on approximately 295 million weighted average diluted shares, assuming share repurchases of approximately $1.3 billion. Capital expenditures are expected to be in the range of $500 million to $550 million in 2015. Approximately 35% will be for improvements, upgrades, remodels and relocations of existing stores; 30% for new leased stores or stores built by us; 25% for distribution center and transportation-related items; and 10% for information systems upgrades and technology-related projects. The company plans to open approximately 730 new stores in 2015, or 6% square footage growth, and relocate or remodel 875 stores. Given the company's strong new store returns that have been consistently proven over the last six years, Dollar General plans to accelerate new store openings to 7% square footage growth in 2016.

 

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Industry Analysis

DG

Industry Average

Valuation DG Industry Range
Price/Earnings 21.1x
Price/Sales 1.2x
Price/Book 3.9x
Price/Cash Flow 21.0x
TEV/Sales 1.0x
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