| Wednesday | ||||
On January 31, Dollar… On January 31, Dollar General entered into an unsecured 364-day credit agreement with the initial lenders named therein as co-documentation agents, providing for a $750M unsecured 364-day revolving credit facility. | ||||
| Monday | ||||
Dollar General announced… Dollar General announced John Garratt's intent to retire from his position as president and CFO effective June 2. Taking into account its robust succession plans, Dollar General will evaluate options for its next CFO and is not currently conducting an external search. | ||||
| Over a week ago | ||||
JPMorgan analyst Matthew… JPMorgan analyst Matthew Boss lowered the firm's price target on Dollar General to $242 from $289 and keeps an Overweight rating on the shares after lowering his FY23 EPS forecast to below the Street view following recent management access and fieldwork. Near-term, he models Q4 same-store sales growth of 6.8%, near the high-end of guidance, and EPS of $3.27, but with shares leading his Department Stores, Specialty Softlines and Discount coverage universe in FY22 he is removing the stock from the firm's Analyst Focus List. | ||||
Dollar General announced… Dollar General announced a partnership with Ibotta, which will extend Dollar General's financial services and offer cash back options to all consumers. As part of the partnership, Dollar General will join the Ibotta Performance Network, the first digital network that enables promotions to be delivered in a coordinated fashion across retailer platforms, large third-party publisher sites, and Ibotta's leading direct-to-consumer properties. Dollar General is the first retailer in its channel to join the IPN. Consumers can currently receive cash back rewards on items at Dollar General through Ibotta's platform and expect cash back rewards available directly through Dollar General's app and website by spring 2023. | ||||
Ohio Attorney General… Ohio Attorney General Dave Yost returned to court to ask a Butler County Common Pleas judge to "immediately force" Dollar General to stop "advertising one price on its store shelves and charging another price - typically higher - at its registers," adding that "deceptive pricing" continues at the retailer's stores. In his request for a temporary restraining order against the discount retailer, Yost cited ongoing violations of the Ohio Consumer Sales Practices Act. He also requested a hearing regarding a preliminary injunction that would require Dollar General to abide by Ohio consumer laws as this case progresses. According to the AG, multiple county auditors, as part of their regular duties, have inspected Dollar General stores and found that many of the product prices displayed did not match the prices charged. Yost sued the company on Nov. 1, 2022. In the months since the lawsuit was filed, the Attorney General's Office says it has received 116 complaints regarding Dollar General's shelf-pricing issues. Reference Link | ||||
| Over a month ago | ||||
Piper Sandler analyst… Piper Sandler analyst Peter Keith raised the firm's price target on Dollar General to $288 from $273 and keeps an Overweight rating on the shares. Looking out to 2023, the outlook for consumer spending "appears murky at best" with risk to the downside, Keith tells investors in a research note. As a result, the analyst leans toward "both recession-resilient growth stocks with company specific drivers as well as opportunistic, non-consensus stock ideas with either discounted valuation or idiosyncratic business drivers." His five favorite names entering 2023 are Dollar General (DG), Planet Fitness (PLNT), Yeti (YETI), Driven Brands (DRVN) and Boot Barn (BOOT). | ||||
Credit Suisse analyst… Credit Suisse analyst Karen Short initiated coverage of Dollar General with a Neutral rating and $260 price target. While she sees reasons to be "constructive," her near-term concerns include recent execution missteps and the fact that the company's closest competitor is focused on closing the price gap and improving operations. | ||||
Meetings to be held in CA… Meetings to be held in CA December 14-15 hosted by Oppenheimer. | ||||
Meetings to be held in CA… Meetings to be held in CA December 14-15 hosted by Oppenheimer. | ||||
Meetings to be held in CA… Meetings to be held in CA December 14-15 hosted by Oppenheimer. | ||||
