Dollar General (NYSE:DG) shares jumped more than 9% intra-day today after the company announced the reappointment of Todd Vasos as its CEO. Vasos, a member of the board, had served as the CEO from June 2015 to November 2022.
The company also adjusted its fiscal 2023 net sales growth forecast to 1.5%-2.5% from the earlier 1.3%-3.3%. Additionally, its EPS estimate was revised to $7.10-$7.60 from the previous $7.10-$8.30.
KeyBanc’s analysts responded positively to Vasos’ comeback, suggesting it might enhance investor confidence and boost necessary investments to stabilize the business. However, they also indicated potential challenges for Dollar General in 2024.