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Investing.com — Canned Goya beans and Frosted Flakes flew off the shelves at Dollar General (NYSE:DG), helping the retailer beat expectations.
Dollar General reported earnings per share of $3.12 compared to the estimated $2.42 on sales of $8.68 billion versus the expected $8.31 billion.
Dollar General has more than 16,000 stores in the continental U.S. and expects to open 1,000 stores for the fiscal year ending Jan. 29, 2021.
Shares traded slightly lower on Thursday, though, off of an all-time high, with the company taking a cautious tone on the future.
“Due to the significant uncertainty that continues to exist around the severity and duration of the COVID-19 pandemic, including its impact on the U.S. economy, consumer behavior and the company’s business, there is a lack of visibility for the remainder of 2020 with many unknowns,” Dollar General said in a statement.
Most analysts like the stock, which has 14 buy ratings, 3 holds and no sells.
