Citi sees in-line Q1 from Dollar General with data not showing slowdown

Citi analyst Paul Lejuez expects Dollar General to report in-line Q1 results and reiterate fiscal 2024 guidance. Based on Placer traffic data, Citi does not see signs of a slowdown at Dollar General, the analyst tells investors in a research note. The firm says that although the company’s exposure to lower income consumers has been a concern in the market for several weeks, Walmart (WMT) last week indicated it has seen consistent spending across income groups. However, Citi believes Walmart winning market share is likely to continue and keeps a Neutral rating on Dollar General with a $138 price target.