Dollar General — Dec 5, 2024 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001104659-24-125759
Showing in the filing
Capital expenditures
“$1.3 billion to $1.4 billion”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 19
Quarterly cash dividend declared for FY2025
“$0.59 per share”
Quarterly cash dividend
“$0.59 per share”
Estimated hurricane-related negative impact for Q4 FY2024
“approximately $10 million”
Net sales growth for FY2024
“in the range of approximately 4.8% to 5.1%”
Same-store sales growth for FY2024
“in the range of approximately 1.1% to 1.4%”
Diluted EPS for FY2024
“in the range of approximately $5.50 to $5.90”
Diluted EPS effective tax rate assumption for FY2024
“approximately 23%”
Effective tax rate for FY2024
“approximately 23%”
Capital expenditures for FY2025
“$1.3 billion to $1.4 billion”
Capital expenditures for FY2024
“$1.3 billion to $1.4 billion”
Real estate projects for FY2024
“2,435 real estate projects, including 730 new store openings, 1,620 remodels, and 85 store relocations”
Share repurchases assumption for FY2024
“no share repurchases”
Real estate projects for FY2025
“approximately 4,885”
New store openings in the U.S. for FY2025
“approximately 575”
New stores in Mexico for FY2025
“up to 15”
Full store remodels for FY2025
“approximately 2,000”
Remodels through Project Renovate for FY2025
“approximately 2,000”
Remodels through Project Elevate for FY2025
“approximately 2,250”
Store relocations for FY2025
“approximately 45”
Exhibit 99.1 · the passage around this item
… earlier in the release
The
Company now expects the following for fiscal year 2024:
· Net
sales growth in the range of approximately 4.8% to 5.1%, compared to its previous expectation
of approximately 4.7% to 5.3%
· Same-store
sales growth in the range of approximately 1.1% to 1.4%, compared to its previous expectation
in the range of 1.0% to 1.6%
o Diluted
EPS in the range of approximately $5.50 to $5.90, compared to its previous expectation of
approximately $5.50 to $6.20
o Diluted
EPS guidance continues to assume an effective tax rate of approximately 23%
The
Company continues to expect the following for fiscal year 2024:
· Capital
expenditures, including those related to investments in the Company’s strategic initiatives,
in the range of $1.3 billion to $1.4 billion
· 2,435
real estate projects, including 730 new store openings, 1,620 remodels, and 85 store relocations
The
Company’s financial guidance also continues to assume no share repurchases in fiscal year 2024.
Fiscal
Year 2025 Store Growth Outlook
“We
are excited about our significant increase in planned real estate projects for 2025,” said Kelly Dilts, Dollar General’s
chief financial officer. “In particular, we are enthusiastic about Project Elevate, which introduces an incremental remodel initiative
within our mature store base. This initiative is aimed at our mature stores that are not yet old enough to be part of the full remodel
pipeline. We believe we will enhance the customer experience with a lighter-touch remodel, including customer-facing physical asset updates
and planogram optimizations and expansions across the store. Ultimately, our goal is to further enhance the associate and customer experience
in our mature stores, while also driving incremental sales growth.”
For
the fiscal year ending January 30, 2026 (“fiscal year 2025”), the Company plans to execute approximately 4,885 real
estate projects, including opening approximately 575 ne
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.