Dollar General Focuses Efforts on Driving Traffic; Shares Fairly Valued
Narrow-moat Dollar General posted fourth-quarter results that aligned with our expectations. Sales increased 2%, driven by a 3.3% comparable-store sales increase, with operating margin down around 100 basis points to 10% (attributable to a 53rd week in 2016). Results for the full year came in about where we anticipated--a low-single-digit sales increase and high-single-digit operating margin--and we plan to maintain our long-term assumptions for 6% average top-line growth and 8.7% average operat...Dollar General is a discount retailer. The company's consumables products includes paper and cleaning products, packaged food, perishables, snacks, health and beauty, pet, and tobacco products. The company's seasonal products include decorations, toys, batteries, small electronics, greeting cards, stationery, prepaid phones and accessories, gardening supplies, hardware, automotive and home office supplies. The company's home products include kitchen supplies, cookware, small appliances, light bulbs, storage containers, frames, candles, craft supplies and kitchen, bed and bath soft goods. The company's apparel includes casual everyday apparel, as well as socks, underwear, disposable diapers, shoes and accessories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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