Dollar General (DG) Q1 2023 Earnings Call Transcript

For the period ending May 5, 2023

June 01, 2023, 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. My name is Robert, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Dollar General's First Quarter 2023 Earnings Conference Call. Today is Thursday, June 1, 2023. All lines have been placed on mute to prevent any background noise. This call is being recorded. Instructions for listening to the replay of the call are available in the company's earnings press release issued this morning.

Now, I'd like to turn the conference over to your host, Mr. Kevin Walker, Vice President of Investor Relations. You may now begin your conference.

Kevin Walker

Thank you, and good morning, everyone. On the call with me today are our CEO, Jeff Owen; our President, John Garratt; and our CFO, Kelly Dilts. Our earnings release issued today can be found on our Web site at investor.dollargeneral.com under News and Events.

Let me caution you that today's comments include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, such as statements about our financial guidance, strategy, vision, initiatives, plans, goals, priorities, opportunities, investments, customer expectations or beliefs about future matters and other statements that are not limited to historical fact. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. These factors include, but are not limited to, those identified in our earnings release issued this morning, under Risk Factors in our 2023 Form 10-K filed on March 24, 2023, and any later filed periodic report and in the comments that are made on this call. You should not unduly rely on forward-looking statements, which speak only as of today's date. Dollar General disclaims any obligation to update or revise any information discussed in the call, unless otherwise required by law.

At the end of our prepared remarks, we will open the call up for your questions. Please limit your questions to one and one follow-up question, if necessary.

Now, it is my pleasure to turn the call over to Jeff.

Jeffery Owen

Thank you, Kevin, and welcome to everyone joining our call. In addition to our first quarter results and updated outlook for 2023, we'll spend our time this morning discussing the significant progress we have made on multiple fronts including improving execution in our distribution centers and stores, an update on the rapidly changing macroeconomic environment and the important actions we are taking to support our customers.