A Dollar General store in Germantown, New York, on Nov. 30, 2023.
Angus Mordant/Bloomberg via Getty Images
Dollar General on Thursday reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain’s profit.
As part of the reevaluation, the dollar-store chain said it will close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter. Popshelf stores cater to higher-income shoppers seeking inexpensive products.
Shares of the company rose 5% in premarket trading Thursday.
Here’s how the discounter did compared with what Wall Street was expecting for the quarter ended Jan. 31, based on a survey of analysts by LSEG:
- Earnings per share:Â 87 cents. That may not compare with an estimate of $1.50.
- Revenue: $10.3 billion vs. $10.26 billion expected
Fourth-quarter revenue rose 4.5% from $9.86…
