11:55 AM EDT, 05/28/2024 (MT Newswires) -- Dollar General's ( DG ) turnaround initiatives and "back to basics" strategy are encouraging, and fiscal Q1 earnings are expected to be in line, along with full-year guidance reaffirmed, amid consumer hurdles, Oppenheimer said Tuesday in a report.

Company Q1 earnings guidance of $1.50 to $1.60 a share is "achievable," and the outlook "already reflects pressures from shrink, markdowns, mix shift and labor," the report said.

Dollar General ( DG ) shares declined after seven of the past eight earnings reports, Oppenheimer said. Mixed sentiment currently prevails amid "growing investor enthusiasm on the longer-term margin recovery potential" and concerns about Q1 comparable sales, the report said.

Recent visits to the company's stores across multiple markets revealed generally solid conditions and improved staffing, the report said. Still, management remains in the early stages of the "back to basics" strategy, Oppenheimer said.

Dollar General's ( DG ) fiscal Q1 results are expected Thursday.

Oppenheimer reiterated its perform rating on Dollar General's ( DG ) stock.

Dollar General ( DG ) shares fell 1.4% in recent trading Tuesday.

Price: 143.18, Change: -2.05, Percent Change: -1.41