Nanterre, September 1st, 2025 Disclosure of transactions in on shares from August 25th to August 29th,2025 Within the framework of the authorization granted by the General Meeting of VINCI SA of April 17th, 2025, to trade in its shares and in accordance with the regulations relating to share buybacks, VINCI SA (LEI:213800WFQ334R8UXUG83) declares the purchases of treasury shares below (FR0000125486), carried out from August 25th to August 29th ,2025: I - Aggregate presentation by day and by market Issuer’ ...

美国达乐还继续推进以旧换新计划并提高核心客户消费频率。美银认为，随着中高收入群体继续进行以 旧换新交易，达乐的前景将得到支持，同时核心客户在达乐的消费支出也会增加(美银认为，在更严峻 的消费者环境背景下，这种趋势可能会加速，消费者对低价产品/包装规格的需求可能会增加)。店铺改 造应会产生"飞轮效应"，不仅能推动销售额增长，还能减少损耗、损坏、维护以及整个店铺系统的中 断。 回归基础举措有效，美银相信回归基础举措(库存削减、商品分类优化、配送中心重置以及陈列包优化) 正在发挥作用。达乐拥有多种支持毛利率增长的催化剂(包括像达乐媒体网络这样的战略举措以及减少 损耗和损坏)，以及营收增长/份额提升(改造、非消耗品增长的回归、持续的数字/配送扩展——包括到 年底在 16000 家店铺推出 1 对 1 当日配送服务，而目前只有 6000 家)。 该公司第二财季经调整后的每股利润则为1.86美元，高于美银预期的1.44美元以及华尔街共识预期1.58 美元。同店销售额增长 2.8%(高于华尔街预期的 2.5%)，客流量增长 1.5%(第一季度为下降0.3%)，客均 销售额增长 1.2%，且各品类均实现增长(包括连续两个季度 ...

Group 1 - Ludovic Demierre has been appointed as the Vice-President of Human Resources at VINCI, joining the Executive Committee and replacing Jocelyne Vassoille [1][2] - Demierre has a long tenure with VINCI, starting as a design engineer in 1995 and holding various HR leadership roles within the company [2] - VINCI is a global leader in concessions, energy solutions, and construction, employing 285,000 people across more than 120 countries [3] Group 2 - The company focuses on designing, financing, building, and operating infrastructure and facilities to enhance daily life and mobility [3] - VINCI is committed to environmental and social responsibility, aiming to create long-term value for customers, shareholders, employees, partners, and society [3]

Market Trends & Industry Dynamics - Dollar General shares fell due to concerns about macroeconomic pressures on low-income consumers [1] - Shoppers are looking for bargains, benefiting discount retailers [1] Financial Performance - Dollar General beat profit and sales estimates [1] - Dollar General raised its guidance [1]

Dollar General Corporation (NYSE:DG) Q2 2025 Earnings Conference August 28, 2025 9:00 AM ET Company Participants Kelly M. Dilts - Corporate Participant Kevin Walker - Vice President of Investor Relations Todd J. Vasos - CEO, Director & Principal Financial Officer Conference Call Participants Charles P. Grom - Gordon Haskett Research Advisors Edward Joseph Kelly - Wells Fargo Securities, LLC, Research Division Kelly Ann Bania - BMO Capital Markets Equity Research Matthew Robert Boss - JPMorgan Chase & Co, Re ...

Traffic Performance Summary - VINCI Autoroutes reported a 1.0% increase in light vehicle traffic and a 0.4% increase in heavy vehicle traffic in July 2025 compared to July 2024, despite having one fewer working day [2][4] - Year-to-date (YTD) traffic for VINCI Autoroutes increased by 2.0%, with light vehicles up by 2.2% and heavy vehicles up by 0.5%, despite two fewer working days than in 2024 [2][4] VINCI Airports Passenger Traffic - VINCI Airports experienced a 3.6% increase in passenger traffic in July 2025 compared to July 2024, with a YTD increase of 5.9% [5] - Notable increases in passenger traffic were observed in several regions, including: - Portugal (ANA): +5.2% in July, +4.9% YTD - Mexico (OMA): +7.7% in July, +10% YTD - Cambodia (Cambodia Airports): +12% in July, +18% YTD - Cabo Verde: +17% in July, +18% YTD - Conversely, the United States saw a decline of 10% in July and 3.6% YTD, while the Dominican Republic experienced a decline of 8.8% in July and 12% YTD [5] VINCI Airports Commercial Movements - VINCI Airports reported a 4.4% increase in commercial movements (ATM) in July 2025 compared to July 2024, with a YTD increase of 6.2% [7] - Significant growth in commercial movements was noted in: - Cambodia (Cambodia Airports): +15% in July, +17% YTD - Cabo Verde: +22% in both July and YTD - Mexico (OMA): +7.8% in July, +9.9% YTD - The United States showed a 2.8% increase in July, but a substantial 25% increase YTD [7]

Financial Data and Key Metrics Changes - Net sales increased by 5.1% to $10.7 billion in Q2 compared to $10.2 billion in the same quarter last year, driven by strong performance from new stores and mature store base [8] - Gross profit as a percentage of sales was 31.3%, an increase of 137 basis points, primarily due to lower shrink, higher inventory markups, and lower inventory damages [18] - Operating profit for Q2 increased by 8.3% to $595 million, with operating profit as a percentage of sales increasing by 16 basis points to 5.6% [19] - EPS for the quarter increased by 9.4% to $1.86, exceeding internal expectations [20] - Merchandise inventories decreased by 5.6% year-over-year to $6.6 billion, with a 7.4% decrease on an average per store basis [21] Business Line Data and Key Metrics Changes - Same store sales increased by 2.8%, driven by a balanced growth of 1.5% in customer traffic and 1.2% in average basket size [9] - Positive comp sales growth was observed across all categories, including consumables, seasonal, home, and apparel [9] - The $1 value merchandising set, comprising over 500 rotating SKUs, saw same store sales growth more than twice the rate of the overall company [12] Market Data and Key Metrics Changes - Market share grew in both dollars and units in highly consumable product sales, as well as in non-consumable product sales [9] - Customers across all income brackets increased spending, with notable growth from middle and higher-income customers contributing to non-consumable category performance [10] Company Strategy and Development Direction - The company is committed to delivering everyday low prices, maintaining prices within three to four percentage points of mass retailers [11] - Focus on enhancing the value and convenience proposition for customers, with a commitment to a substantial offering of items at or below the $1 price point [11] - Strategic initiatives include expanding the real estate footprint, enhancing mature store base, and leveraging digital capabilities for delivery and customer engagement [27][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for shrink reduction to contribute more than 80 basis points toward the operating margin goal of 6% to 7% [42] - The company raised its financial outlook for 2025, expecting net sales growth of approximately 4.3% to 4.8% and same store sales growth of approximately 2.1% to 2.6% [23] - Management acknowledged potential uncertainty in consumer behavior as the year progresses, particularly in Q4 [23] Other Important Information - The company plans to redeem $600 million of senior notes in Q3, ahead of their April 2027 maturity [25] - A new CFO, Donnie Lau, will join the company in October, bringing a deep understanding of the business and strategic leadership [14] Q&A Session Summary Question: Expectations on shrink contributing to long-term financial framework - Management is optimistic about outperforming shrink expectations but maintains a target of 6% to 7% operating margin [42] Question: Gross margin expectations for Q3 and execution progress - Management expects year-over-year improvement in gross margin but acknowledges tougher laps in Q4 [48] Question: Delivery partnerships and their impact - The DoorDash partnership has driven significant sales growth, with a 60% year-over-year increase, and the Uber Eats partnership is expected to expand delivery capabilities [57][60] Question: Customer behavior and value proposition - Management characterizes customers as resilient and seeking value, with a strong value proposition across all income cohorts [66] Question: Gross margin drivers and shrink recovery - Management highlighted ongoing initiatives to improve shrink and damages, with optimism for continued improvement in gross margin [72][75]

Financial Data and Key Metrics Changes - Net sales increased by 5.1% to $10.7 billion in Q2 compared to $10.2 billion in the same quarter last year, driven by strong performance from new stores and the mature store base [7] - Gross profit as a percentage of sales was 31.3%, an increase of 137 basis points, primarily due to lower shrink, higher inventory markups, and lower inventory damages [17] - Operating profit for Q2 increased by 8.3% to $595 million, with operating profit as a percentage of sales rising by 16 basis points to 5.6% [19] - EPS for the quarter increased by 9.4% to $1.86, exceeding internal expectations [20] - Merchandise inventories decreased by 5.6% year-over-year to $6.6 billion, with a 7.4% decrease on an average per store basis [20] Business Line Data and Key Metrics Changes - Same store sales increased by 2.8%, driven by a balanced growth of 1.5% in customer traffic and 1.2% in average basket size [8] - Positive comp sales growth was observed across all categories, including consumables, seasonal, home, and apparel [8][9] - The $1 value merchandising set, comprising over 500 rotating SKUs, saw same store sales growth more than twice the overall company rate [12] Market Data and Key Metrics Changes - Market share grew in both dollars and units for highly consumable product sales, as well as in non-consumable product sales [8] - Customers across all income brackets increased spending, with notable growth from middle and higher-income customers [9][10] Company Strategy and Development Direction - The company is committed to maintaining everyday low prices, operating within three to four percentage points of mass retailers [11] - Focus on enhancing the value and convenience proposition for customers, with a substantial offering of items at or below the $1 price point [11] - Continued investment in real estate, with plans for 4,885 projects in 2025, including 575 new store openings in the U.S. and up to 15 in Mexico [23] - Digital initiatives are being expanded, including partnerships with DoorDash and Uber Eats to enhance delivery options [30][31] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for shrink reduction to contribute more than 80 basis points toward the operating margin goal of 6% to 7% [17][24] - The company raised its financial outlook for 2025, expecting net sales growth of approximately 4.3% to 4.8% and same store sales growth of approximately 2.1% to 2.6% [23] - Management acknowledged potential uncertainty in consumer behavior as the year progresses, particularly in Q4 [23] Other Important Information - The company is transitioning to a new CFO, Donnie Lau, who is expected to begin in October [14] - The company is focused on improving its debt metrics to support a commitment to middle BBB ratings by S&P and Moody's [22] Q&A Session Summary Question: Expectations on operating margin due to shrink reduction - Management is optimistic about potentially outperforming shrink expectations but maintains a target of 6% to 7% for the operating margin [40][41] Question: Gross margin expectations for Q3 and execution progress - Management expects year-over-year improvement in gross margin but anticipates tougher comparisons in Q4 [46][47][49] Question: Insights on delivery partnerships and incrementality - The DoorDash partnership has driven significant sales growth, and the company is optimistic about the new Uber Eats partnership [53][54][56] Question: Customer behavior and value proposition - Management noted that customers are resilient and seeking value, with a strong value proposition across all income cohorts [63][64][66] Question: Relationship between shrink and inventory damages - Management highlighted that improvements in shrink are positively impacting damages, with expectations for continued improvement [100][101]

Dollar General (DG) Q2 2026 Earnings Call August 28, 2025 09:00 AM ET Speaker0Good morning. My name is Rob, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Dollar General Second Quarter twenty twenty five Earnings Call. Today is Thursday, 08/28/2025. 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 t ...

Core Insights - Dollar General reported quarterly earnings of $1.86 per share, exceeding the Zacks Consensus Estimate of $1.56 per share, and showing an increase from $1.7 per share a year ago, resulting in an earnings surprise of +19.23% [1] - The company achieved revenues of $10.73 billion for the quarter ended July 2025, surpassing the Zacks Consensus Estimate by 0.47% and up from $10.21 billion year-over-year [2] - Dollar General's stock has increased approximately 46.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 10.2% [3] Earnings Outlook - The future performance of Dollar General's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [4] - The current consensus EPS estimate for the upcoming quarter is $0.90 on revenues of $10.59 billion, and for the current fiscal year, it is $5.77 on revenues of $42.41 billion [7] Industry Context - The Retail - Discount Stores industry, to which Dollar General belongs, is currently ranked in the top 45% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]