Dollar General said net sales for Q2 2024 (13-week) rose 4.2% to $10.21 billion, with same-store sales up 0.5%, while operating profit fell 20.6% to $550.0 million.

1. 01

   Dollar General said net sales for Q2 2024 (13-week) rose 4.2% to $10.21 billion, with same-store sales up 0.5%, while operating profit fell 20.6% to $550.0 million.

2. 02

   The company said its gross profit rate for Q2 was 30.0%, down 112 basis points, citing increased markdowns and damages, a greater share of sales from consumables and higher shrink. SG&A as a percentage of net sales was 24.6%, up 57 basis points.

3. 03

   The company said cash flow from operating activities for 2024 26 weeks was $1.653 billion, up $926.0 million. It said the change in merchandise inventories was a $23.4 million decrease (compared with a $817.0 million decrease a year earlier), and that accounts payable rose $306.3 million.

4. 04

   The company said it opened 213 new stores in Q2. It plans to open about 730 new stores and spend about $1.3 billion to $1.4 billion on capital expenditures in fiscal 2024. It said the quarterly cash dividend is $259.5 million per 26 share, and that it did not repurchase shares in the first half of 2024, with about $1.38 billion remaining under its authorization.

Key figures

Quarter ended August 2, 2024

Revenue

$10.2B

Operating income

$550M

Net income

$374M

EPS

$1.70

Gross profit

$3.1B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

You can verify the report’s figures and statements in the original filing on SEC EDGAR.