Dollar General, the discount retailer, has reappointed former chief executive Todd Vasos, who recently retired from the company. During his nearly eight-year term, Vasos led the company to impressive sales growth. However, his return to the role comes at a time when Dollar General is facing a decline in consumer demand.
Following the announcement, the company’s shares experienced a significant rise of 7.8%, reaching $109.73 after-hours.
Smart Global Holdings Reports Sales Decline
In its latest financial report, Smart Global Holdings revealed that its fiscal fourth-quarter sales have dropped by nearly 13%, falling short of analysts’ expectations. The computing and memory company also predicts that sales from continuing operations will fall well below what analysts had anticipated.
Due to this disappointing news, the company’s shares witnessed a sharp decline of 24%, reaching $17.85.
Outset Medical Faces Revenue Challenges
Outset Medical, a medical-technology company, recently announced preliminary third-quarter revenue numbers that fell below expectations. Additionally, the company has adjusted its full-year sales guidance downwards. Outset Medical attributes these challenges to a recent warning letter from the Food and Drug Administration and expects further difficulties due to cautious capital spending.
As a result, the company’s shares tumbled by 34% to $4.50 after-hours.
