On Tuesday, in the course of current trade, Shares of Dollar General Corporation (NYSE:DG), gained 3.45%, and is now trading at $75.33.
Dollar General Corporation, stated financial results for its 2015 first quarter (13 weeks) ended May 1, 2015.
Financial Highlights
- Net sales raised 8.8 percent to $4.92 billion in the 2015 first quarter contrast to $4.52 billion in the 2014 first quarter. Same-store sales raised 3.7 percent resulting from enhances in both customer traffic and average transaction amount. Same-store sales enhances were balanced across both consumable and non-consumable categories. In consumables, higher volume of tobacco products, perishables, health care items, and candy and snacks drove the growth in same-store sales. Same-store sales growth within non-consumables was strongest in apparel with seasonal and home also posting solid gains.
- Gross profit, as a percentage of sales, was 30.5 percent in the 2015 first quarter, an enhance of 45 basis points from the 2014 first quarter. The majority of the gross profit rate enhance was due to higher initial inventory markups, an improved inventory shrink rate and lower transportation costs.
- Selling, general and administrative expense (“SG&A”) as a percentage of sales was 21.8 percent in the 2015 first quarter contrast to 21.6 percent in the 2014 first quarter, an enhance of 13 basis points. The majority of the SG&A enhance was due to higher incentive compensation, advertising costs, repairs and maintenance, fees associated with the raised use of debit cards and workers’ compensation expenses. Partially offsetting these items were raised utilization of cash back transactions resulting in raised convenience fees charged to customers.
- The effective income tax rate in the 2015 first quarter was 37.7 percent contrast to 37.8 percent in the 2014 first quarter.
Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.
During an Afternoon trade, Shares of Goodrich Petroleum Corp. (NYSE:GDP), gained 3.66%, and is now trading at $2.74.
The board of directors of Goodrich Petroleum Corporation, has declared a quarterly cash dividend of $0.6719 per share on its 5.375% Series B Cumulative Convertible Preferred Stock, with dividends to be paid on June 15, 2015 to stockholders of record as of June 1, 2015.
In addition, the Board has also declared a quarterly cash dividend of $0.625 per depositary share on its 10.00% Series C Cumulative Preferred Stock, and a quarterly cash dividend of $0.609375 per depositary share on its 9.75% Series D Cumulative Preferred Stock to be paid on June 15, 2015 to stockholders of record as of June 12, 2015.
Goodrich Petroleum Corporation, an independent oil and natural gas company, engages in the exploration, development, and production of oil and natural gas. The company holds interest in the Tuscaloosa Marine Shale located in southwest Mississippi and southeast Louisiana; the Eagle Ford Shale Trend located in South Texas; and the Haynesville Shale Trend in Northwest Louisiana and East Texas.
Shares of NextEra Energy, Inc. (NYSE:NEE), during its Tuesday’s current trading session fell -1.57%, and is now trading at $101.90.
NextEra Energy, declared the settlement rate for the stock purchase contracts that are components of equity units that it issued in May 2012. Holders of the equity units will receive 0.6550 shares of NextEra Energy common stock for each stock purchase contract that they hold, with cash to be paid in lieu of any fractional shares. The settlement rate is based upon the average of the closing price per share of NextEra Energy common stock on the New York Stock Exchange for the 20 successive trading days ending on May 27, 2015.
Consequently, on June 1, 2015, each holder of the equity units on that date will, following payment of $50.00 for each unit which it holds, receive 0.6550 shares of NextEra Energy common stock for each such unit. The holders’ obligations to make such payments will be satisfied with proceeds generated by the successful remarketing on May 7, 2015, of the NextEra Energy Capital Holdings, Inc. debentures that formerly constituted a component of the equity units.
Upon settlement of all outstanding stock purchase contracts, NextEra Energy will receive $600 million in exchange for 7.86 million shares of common stock.
NextEra Energy, Inc., through its auxiliaries, generates, transmits, and distributes electric energy in the United States and Canada. The company generates electricity from gas, oil, solar, coal, petroleum coke, nuclear, and wind sources.
Finally, Dollar Tree, Inc. (NASDAQ:DLTR), gained 0.99% Tuesday.
Dollar Tree, declared that they have reached a definitive agreement following which Dollar Tree will sell Sycamore Partners a divestiture package of 330 Family Dollar stores contingent on completion of Dollar Tree’s pending acquisition of Family Dollar Stores, Inc. (“Family Dollar”). As formerly revealed, the 330 stores represent about $45.5 million of operating income for Family Dollar. Sycamore Partners intends to operate the 330 stores under the Dollar Express banner.
The divestiture declared recently enables Dollar Tree to address Federal Trade Commission (“FTC”) concerns. Both the divestiture and the pending acquisition of Family Dollar remain subject to review by the FTC and satisfaction of other customary conditions. Dollar Tree continues to make progress with the FTC and intends to close the merger with Family Dollar in early July 2015 after securing FTC clearance.
Wachtell, Lipton, Rosen & Katz and Williams Mullen are acting as legal counsel to Dollar Tree in connection with the transaction. The Law Offices of Gary M. Holihan, P.C., Kirkland & Ellis LLP and Winston & Strawn LLP are acting as legal advisors to Sycamore Partners.
Dollar Tree, Inc. operates discount variety stores in the United States and Canada. Its stores offer merchandise at the fixed price of $1.00. The company’s stores provide consumable merchandise, which comprises candy and food, and health and beauty care products; and everyday consumables, such as paper and chemicals, and frozen and refrigerated food.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
