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expectations regarding tariff (including tariff refunds), inflationary, fuel and labor pressures;
Read in the filing ↗ Also in 10-Q of Aug 27, 2026
Uncertainty remains regarding the potential impact of tariffs on consumer behavior and our business. Tariff rates on both direct imports and domestic purchases did not materially impact our financial results in 2025. The tariff environment remains dynamic, and the specific tariffs applicable to goods imported by us and our suppliers into the U.S. may continue to evolve. Currently announced tariff rates, as well as any rate increases or expansions of tariff coverage affecting the products that we sell, could have a significant impact on our business and on our customers’ budgets. Further, on February 20, 2026, the United States Supreme Court invalidated the tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Significant uncertainty exists regarding potential tariff refunds and replacement tariffs under other statutes. We continue to monitor developments and to evaluate and implement mitigation strategies to address the potential sales and margin impact of current and potential future tariffs, as well as to take various actions designed to minimize price increases for our customers. There can be no assurance we will be successful in our efforts, or that price increases will not adversely affect customer behavior.
Read in the filing ↗ Also in 10-Q of Jun 2, 2026, 10-Q of Dec 4, 2025, 10-Q of Aug 27, 2026, 10-Q of Aug 28, 2025
While the Company's first quarter 2025 financial results exceeded its internal expectations, uncertainty exists for the remainder of the year regarding the potential impact of tariffs on the business, and particularly on consumer behavior. The tariff environment remains highly dynamic, and the specific tariffs applicable to goods imported by the Company and its suppliers into the U.S. continue to evolve.
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The Company is updating its expectations for the year, primarily to reflect its outperformance in the first quarter and the tariff uncertainty discussed above. This updated guidance assumes the Company will be able to mitigate a significant portion of the potential impact to its cost of goods from tariffs at currently implemented rates, but that consumer spending could be pressured by tariff- related price increases.
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risks and challenges associated with sourcing merchandise from suppliers, including, but not limited to, those related to international trade (for example, increasing tariffs on imported goods, political uncertainty involving China, disruptive political events such as the conflict between Russia and Ukraine and the conflict in the Middle East, the dynamic and uncertain tariff environment (including the uncertainty regarding the exact timing and amount of any tariff refund payments), and p...
Read in the filing ↗ Also in 8-K of Jun 2, 2026, 8-K of Aug 27, 2026, 8-K of Jun 3, 2025, 8-K of Aug 28, 2025, 10-Q of Aug 28, 2025, 10-Q of Dec 4, 2025, 8-K of Mar 12, 2026, 10-Q of Aug 27, 2026, 8-K of Mar 13, 2025
The updated guidance assumes current tariff rates remain in place through mid- August 2025, and the Company has plans in place to address the potential reversion to the tariff rates previously announced on goods from China on April 2, 2025.
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The Company’s financial guidance assumes no share repurchases in fiscal 2026 and does not include any potential impact from tariff refund payments.
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Diluted o EPS guidance includes the estimated benefit from tariff refunds, after related reinvestments, of approximately $0.25 in the second quarter of fiscal 2026
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Gross profit as a percentage of net sales was 32.6% in the second quarter of fiscal 2026 compared to 31.3% in the second quarter of fiscal 2025, an increase of 127 basis points. This gross profit rate increase was primarily attributable to tariff refunds, a lower LIFO provision, and lower distribution costs; partially offset by increased markdowns and increased transportation costs. The Company estimates the gross margin benefit of tariff refunds, after related reinvestments, was approximately 81 basis points.
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the current U.S. administration has imposed tariffs and could further significantly increase tariffs on goods from China, Mexico, Canada and other countries. These and other factors affecting our suppliers and our access to products could adversely affect our business and financial performance. If we increase our product imports from foreign vendors, the risks associated with these imports also will increase, and we may be exposed to additional or different risks as we increase imports of goods produced in countries other than China.
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Gross Profit. For the 2026 period, gross profit increased by 9.5%, and as a percentage of net sales increased by 127 basis points to 32.6%, compared to the 2025 period. The increase in the gross profit rate was driven primarily by tariff refunds, a lower LIFO provision, and lower distribution costs, partially offset by increased markdowns and increased transportation costs. We estimate the gross profit benefit of tariff refunds after related reinvestments, primarily through promotional and permanent markdowns, was approximately 81 basis points.
Read in the filing ↗ Also in 10-Q of Aug 27, 2026
Operating profit for the second quarter of fiscal 2026 increased 29.2% to $769.2 million compared to $595.4 million in the second quarter of fiscal 2025. The Company estimates the operating margin benefit of tariff refunds, after related reinvestments, was approximately 66 basis points.
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The Company is raising its financial guidance to reflect its strong first half results and its improved outlook for the remainder of the year. The Company does not anticipate a material impact to its financial results from tariff refunds, after related reinvestments, in the second half of fiscal 2026. The Company now expects the following for fiscal 2026:
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… sustained higher import duties or tariffs on both products that we sell and those that we use in our business); the dynamic and uncertain tariff environment (including its impact on our profitability and on our customers’ response to price increases, as well as the uncertainty regarding the exact timing and amount of any tariff refund payments); and changes in laws …
Read in the filing ↗ Also in 8-K of Jun 3, 2025, 8-K of Aug 28, 2025, 8-K of Mar 12, 2026, 8-K of Aug 27, 2026, 8-K of Dec 4, 2025, 8-K of Mar 14, 2024, 8-K of May 30, 2024, 8-K of Aug 29, 2024, 8-K of Dec 5, 2024, 8-K of Mar 13, 2025
The Company reported net income of $550.3 million for the second quarter of fiscal 2026, an increase of 33.8% compared to $411.4 million in the second quarter of fiscal 2025. Diluted EPS increased 33.3% to $2.48 for the second quarter of fiscal 2026 compared to diluted EPS of $1.86 in the second quarter of fiscal 2025, including an estimated benefit from tariff refunds, after related reinvestments, of approximately $0.25.
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We directly imported approximately 4% of our purchases (measured at cost) in 2025, but many of our domestic vendors directly import their products or components of their products. Changes to the prices and flow of these goods often are for reasons beyond our control, such as political or civil unrest, acts of war, disruptive global political events (for example, political tensions involving China, the conflict between Russia and Ukraine and the conflict in the Middle East), currency fluctuations, tariffs and duties, disruptions in maritime lanes, port labor
Read in the filing ↗ Also in 10-K of Mar 21, 2025
“We are pleased with our second quarter performance, which included balanced topline growth, healthy operating margin expansion and strong double-digit EPS growth,” said Todd Vasos, Dollar General’s chief executive officer. “These results, which exceeded our expectations even before considering the benefit from tariff refunds after related reinvestments, are a testament to the strong execution, strategic direction, and continued dedication of our team. I want to thank our associates in our stores, distribution centers, private fleet and store support center for the work they do every day to fulfill our mission of Serving Others.”
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… In addition, the United States’ foreign trade policies, duties, tariffs and other impositions on imported goods, trade sanctions imposed on certain countries (particularly China) and entities, import limitations on certain types of goods or goods containing certain materials and other factors relating to foreign trade, including but not limited to port labor agreements, are beyond our control. In 2025, the …
Read in the filing ↗ Also in 10-K of Mar 21, 2025
Many of the economic factors listed above, as well as commodity rates; transportation, lease and insurance costs; wage rates (including the possibility of increased federal and further increased state and/or local minimum wage rates); foreign exchange rate fluctuations; measures that create barriers to or increase the costs of international trade (including increased import duties or tariffs, some of which have been announced and are expected to begin in 2025); changes in applicable laws and regulations (including tax laws related to the corporate tax rate); and other economic factors, also could impair our ability to successfully execute our strategies and initiatives, as well as increase our cost of goods sold and selling, general and administrative expenses (including real estate and building costs), and may have other adverse consequences that we are unable to fully anticipate or control, all of which may materially decrease our sales or profitability.
Read in the filing ↗ Also in 10-K of Mar 20, 2026
We believe our convenient store formats, locations, and broad selection of high-quality products at compelling values have driven our substantial growth and financial success over the years and through a variety of economic cycles. We are mindful that the majority of our customers are value-conscious, and many have low and/or fixed incomes. As a result, we are intensely focused on helping our customers make the most of their spending dollars. The primary macroeconomic factors that affect our core customers include unemployment and underemployment rates, inflation, wage growth, changes in federal and state tax policies, interest rates, changes in U.S. and global trade policy (including price increases resulting from tariffs), and changes in U.S. government policy and assistance programs (including cost of living adjustments and work requirements), such as SNAP, unemployment benefits, and economic stimulus programs. Finally, significant unseasonable or unusual weather patterns or extreme weather can impact customer shopping behaviors.
Read in the filing ↗ Also in 10-Q of Aug 28, 2025, 10-Q of Dec 4, 2025
… suppliers, including, but not limited to, those related to international trade (for example, increasing tariffs · on imported goods, political uncertainty involving China, disruptive political events such as the conflict between Russia and Ukraine and the conflict in the Middle East, the dynamic and uncertain tariff environment, and port labor disputes/agreements); natural disasters, unusual weather conditions (whether or not caused …
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… and/or local minimum wage rates); foreign exchange rate fluctuations; measures or events that create barriers to or increase the costs of international trade (including increased import duties or tariffs); and changes in laws and regulations and their effect on, as applicable, customer spending and disposable income, the Company’s ability to execute its strategies and initiatives, the Company’s …
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