Dollar General Corp. (NYSE:DG) shares dropped -$3.63 or -7.79% to close at $42.94 after its fiscal third-quarter earnings advanced 21%, but comparable sales expansion, gross margin and fourth-quarter guidance came in below consensus anticipations.
Bernstein stated that the discount retailer’s results imply comparatively muted trends and sustained gross margin pressure in the near-term. He added that the firm had formerly targeted gross-margin growth in the second-half, but currently appears to be leaning toward declining prices as the market demonstrated some signs of sluggishness. [article_detail_ad_1]
Dollar General, headquartered in Goodlettsville, Tennessee, will boost spending on promotions to stimulate sales of other popular items like coffee and cereal to consumers, Chief Executive Officer Richard Dreiling stated today on a conference call. Americans face the possibility of above $600 billion in tax increases and government spending cuts coming year.
Casey’s General Stores, Inc. (NASDAQ:CASY) advanced +$2.66 or +5.48% to close at $51.20 after its fiscal second-quarter earnings dropped 13% as the convenience-store operator announced that gas margins dropped from record highs a year earlier and operating expenses amplified. Still, revenue and earnings were usually in-line with anticipations.
Casey’s made $32.9 million, or 85 cents per share, in the quarter that closed October 31. That evaluates with $37.6 million, or 98 cents per share, in the same period previous year. Revenue rose 7.2% to $1.91 billion.
Hanwha Solarone Co Ltd (NASDAQ:HSOL) sharply broadened its third-quarter loss as the Chinese solar-products maker posted a double-digit drop in revenue, while as well facing a tough comparison with a year-ago period sustained by a large one-time gain. Results fell short of Wall Street forecasts and Hanwha slashed its module shipments outlook for the year.