Dollar General Boasts Strong Execution in 1Q; Shares Worth a Look
We see little in narrow-moat Dollar General’s first-quarter results to warrant a change to our $93 fair value estimate, and would use the high-single-digit decline in shares as an opportunity to build a position in a competitively advantaged defensive retailer at a discount. The firm’s top line grew 9% (on top of the 6.5% last year), driven by a comparable-store sales increase of 2.1%, and as such, we think the firm is on track to hit our full-year 8.3% top-line growth estimate. Although the fir...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.
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