Dollar General (NYSE: DG) reported third-quarter 2020 financial results before the regular market hours on Thursday. The discount store chain reported Q3 revenue of $8.2 billion, up 17% year-over-year, and higher than the Wall Street projection. Meanwhile, net income of $2.31 per share was much better than what analysts had anticipated.
DG shares fell 2.7% immediately following the announcement. The stock has gained 39% since the beginning of this year.
CEO Todd Vasos said in a statement, “We plan to award a total of up to $75 million in appreciation bonuses to eligible frontline employees in Q4, which includes our recent announcement to double our initial plans for second-half bonuses by approximately $50 million, bringing the company’s full-year investment in employee appreciation bonuses to approximately $173 million.”