Starting March 30th, Dollar General Corp (DG) will grant a 10% discount on qualifying purchases to all medical personnel, first responders and activated National Guardsmen, the company said.
To receive the discount, individuals need to present their employment badge or ID at Dollar General’s over 16,300 stores.
The discount will be offered through April 30th, while the department store operator intends to assess a possible extension of the offer during the upcoming weeks.
Dollar General shares closed higher for a third consecutive trading session in New York on Monday. The stock went up 0.44% ($0.65) to $146.77, after touching an intraday high at $149.74, or a price level not seen since March 19th ($151.12).
Shares of Dollar General Corp have retreated 5.90% so far in 2020 compared with an 18.70% loss for the benchmark index, S&P 500 (SPX).
In 2019, Dollar General Corp’s stock went up 44.32%, thus, it again outperformed the S&P 500, which registered a 28.88% gain.
“At Dollar General, we are deeply appreciative for the ongoing and brave work that our medical professionals, first responder communities and National Guard activated continue to perform during these unprecedented times,” Todd Vasos, Dollar General’s Chief Executive Officer, said in a press release.
“To demonstrate our heartfelt gratitude for these individuals’ tireless service to their communities, we are proud to help support them with this discount. On behalf of the entire Dollar General family, we would like to thank all of the physicians, nurses, pharmacists, paramedics, police officers, fire fighters, Guardsmen and other health care and front-line professionals working to support and care for our neighbors and communities,” Vasos added.
Dollar General also said that it would invest nearly $35 million in bonuses for all eligible store, distribution center and private fleet employees, who work during a six-week period beginning in mid-March.
Analyst stock price forecast and recommendation
According to CNN Money, the 25 analysts, offering 12-month forecasts regarding Dollar General Corp’s stock price, have a median target of $171.00, with a high estimate of $190.00 and a low estimate of $140.00. The median estimate represents a 16.51% upside compared to the closing price of $146.77 on March 30th.
The same media also reported that at least 18 out of 27 surveyed investment analysts had rated Dollar General Corp’s stock as “Buy”, while 7 – as “Hold”.