Dollar General Corporation (NYSE: DG) reported a decline in fourth-quarter earnings, despite a 3% increase in net sales. Earnings beat analysts’ estimates, while the top-line missed. The company also provided guidance for the first quarter and fiscal 2022.
Net income decreased to $597.4 million or $2.57 per share in the fourth quarter of 2021 from $642.7 million or $2.62 per share in the same period of last year. However, the bottom line came in above Wall Street’s prediction.
Meanwhile, net sales increased around 3% annually to $8.65 billion but missed analysts’ forecast. The topline was affected by a 1.4% decrease in same-store sales. The management also raised the quarterly cash dividend by 31%.
“Despite a more challenging than expected operating environment, our teams remained focused on executing our operating priorities and advancing our strategic initiatives, which we believe position us well for solid sales and profit growth in 2022 and beyond,” Todd Vasos, chief executive officer of Dollar General.
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