Soft Fourth-Quarter Margins, Investment Plans Do Not Change Our Long-Term View of Dollar General
With year-end results shy of our targets and management indicating it plans to make (prudent) investments in fiscal 2019 that should crimp near-term performance, we anticipate cutting our $108 per share valuation for narrow-moat Dollar General by a mid- to high-single-digit percentage. We expect its new food, self-checkout, and stocking initiatives to deliver top- and bottom-line benefits, but the measures align with our view that Dollar General will have to use its intangible asset and cost str...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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