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NYSE Resumption - Dollar General <DG.N> no first
06/30 10:54 Dollar General <DG.N> off after sales report
NEW YORK, June 30 (Reuters) - Dollar General Corp. shares fell about 10 percent after the
company announced that its sales for June are below its expectations so far.
Dollar General shares, a top performer among retailers with a string of double-digit same store sales
gains, dropped 4-2/16 to 38-11/16 in mid-morning trade.
In a recording for investors, Dollar General said June same-store sales are expected to be rise in the
mid-single digits and total sales increases so far this month top 20 percent, but are below internal plans
of 22 to 27 percent.
Dollar General was previously expecting same-store sales increases of nine percent for June, the
retailer said in the recording.
The disruption of adding store fixtures and the lack of stock of some items affected sales, the
recording said.
Nathalie Brochu, Merrill Lynch analyst, said the company is revamping its merchandising and including
more low-cost apparel. Brochu said she expects the company to complete the revamping of its
fixtures before the "back-to-school" season.
"We think once this is done the sales are going to be really good," Brochu said.
"We're still positive on the story, but there's a little hiccup this month and possibly next month," she
said.
Dollar General was not immediately available for further comment.
NYSE Resumption - Dollar General <DG.N> no first
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