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Why Dollar General Stock Got Clobbered by the Market Today

TheMotleyFool

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Why Dollar General Stock Got Clobbered by the Market Today: https://g.foolcdn.com/editorial/images/734710/frustrated-investor-rubs-head-looks-at-computer.jpg

Shares of discount retail chain Dollar General (NYSE: DG) got clobbered by the market on Thursday after the company released its latest quarterly financial results. As of 11 a.m. ET, Dollar General stock was down almost 20%, hitting 52-week lows and wiping out about 3.5 years of gains.

In Q1, net sales for Dollar General were up 6.8%, but this is largely because the company opened 212 new stores during the quarter. By comparison, same-store sales at locations open for at least 13 months were only up 1.6%.

The size of the increase is significant, because prices are up, which led to the gain. By contrast, traffic at Dollar General is down, and that's a problem.

Source Fool.com

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