NEW YORK, Dec. 01, 2023 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of investors that purchased the common stock of Dollar General Corporation (“Dollar General” or the “Company”) (NYSE: DG) between May 28, 2020 and August 31, 2023, inclusive (the “Class Period”). Click Here to Join Investigation.
If you acquired Dollar General common stock during the Class Period and would like to discuss this case, please click here. You may also contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003.
If you are a member of the proposed Class, you may move the court no later than January 26, 2024 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process.
On February 23, 2023, Dollar General announced that its financial results for the fourth quarter of 2022 would be below what Dollar General had led investors to expect as recently as December 2022. Following this news, the price of Dollar General common stock fell more than $8 per share, about 3.6%, to close at $217.11 per share on February 23, 2023.
On March 16, 2023, Dollar General reported its final fourth quarter 2022 financial results, including sales growth of only 10.6%, missing its prior annual net sales guidance of 11% growth. Following this news, the price of Dollar General common stock fell $6.47 per share, nearly 3%, to close at $212.09 per share on March 16, 2023.
Then, on June 1, 2023, according to the complaint, Dollar General reported disappointing first quarter 2023 financial results and slashed its full year 2023 financial forecast to expected net sales growth in the range of 3.5% to 5% growth compared to its prior expectation for net sales growth in the range of 5.5% to 6% provided in March 2023. Following this news, the price of Dollar General common stock fell $39.23 per share, nearly 20%, to close at $161.86 per share on June 1, 2023.
Finally, on August 31, 2023, Dollar General reported its second quarter 2023 financial results, including that same-store sales had decreased by 0.1%, operating profit had decreased by 24.2%, and earnings per share had decreased by 28.5%. According to the complaint, the Company blamed weaker consumer spending on non-essential purchases and increasing theft. Additionally, Dollar General announced that it now expected net sales growth of 1.3% to 3.3% for fiscal 2023 compared to its previous expectation of 3.5% to 5% growth. Following this news, the price of Dollar General common stock fell $19.16 per share, more than 12%, to close at $138.50 per share on August 31, 2023.
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If you have any questions about this Notice, your rights, or your interests, please contact:
Pamela Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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