Dollar General stock crashes 17% after the budget retailer cuts its outlook for the rest of the year

• Dollar General stock tumbled 17% on Thursday following a second-quarter earnings miss.
• The company reported earnings of $2.13 a share, while a FactSet survey forecasted $2.47 a share.
• The budget retailer slashed its earnings and sales outlook for the rest of 2023. 

Dollar General stock dropped roughly 17% Thursday following downbeat earnings for the second quarter and a revised outlook for the remainder of the year.

Shares changed hands at about $131.63 before midday in New York. 

The budget retailer missed expectations with $2.13 earnings per share on revenue of $9.8 billion. A survey of FactSet analysts had forecasted $2.47 per share, with revenue of $9.9 billion.