Core Viewpoint - VINCI is launching a tap issue of non-dilutive convertible bonds for a nominal amount of €125 million, which may be increased to €150 million, to be fully assimilated with its existing €400 million non-dilutive convertible bonds due February 2030 [1][2] Group 1: Bond Issuance Details - The New Bonds will be issued on the same terms as the Original Bonds, with the exception of the issue date and price, and will be fully fungible with the Original Bonds upon settlement [2] - The initial issue price of the New Bonds is expected to be between 106.450% and 106.950% of their nominal value, with the final price to be announced on 30 April 2025 [5] - The settlement and delivery date for the New Bonds is anticipated to be on 6 May 2025 [6] Group 2: Use of Proceeds - The net proceeds from the issuance of the New Bonds will be utilized for general corporate purposes and the purchase of new cash-settled call options on VINCI's shares [4][3] Group 3: Market and Regulatory Context - The New Bonds will be offered through an accelerated book building process to institutional investors only, with no public offering in certain jurisdictions including the United States, Australia, South Africa, Canada, and Japan [9][18] - VINCI will agree to a lock-up undertaking regarding its shares and equity-linked securities for a period ending 60 days after the settlement date of the New Bonds [8]

Group 1 - VINCI SA conducted share buybacks from April 21 to April 25, 2025, under the authorization from the General Meeting held on April 17, 2025 [2] - A total of 203,500 shares were purchased during this period, with an average price of €119.2894 per share [2] - The transactions were executed across multiple markets, including XPAR, CEUX, and TQEX, with varying daily volumes and average prices [2] Group 2 - Detailed transaction information is available on the VINCI website, complying with EU Regulation No 596/2014 regarding market abuse [3]

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Nanterre, 24 April 2025 QUARTERLY INFORMATION AT 31 MARCH 2025 Revenue up 4% to €16.3 billionSolid performance overall in the three Group’s businesses Concessions (up 8%): higher motorway traffic levels and airport passenger numbers Energy Solutions (up 6%): dynamic international momentum and good order intake in flow businessConstruction: stabilization of revenue at a high level, order intake at VINCI Construction up Record order book 2025 guidance unchanged Appointments of Xavier Huillard as Chairm ...

Core Viewpoint - The S&P 500 index has declined by 10% in 2025 due to erratic trade policies, recession fears, and high interest rates, creating opportunities for investors to find value in stocks like Dollar General and Vici Properties [1] Group 1: Dollar General - Dollar General's shares have increased by 23% year to date, significantly outperforming the market [2] - The company benefits from low exposure to tariffs, with only 10% of its merchandise affected, compared to 50% for Dollar Tree and nearly 100% for mainstream retailers [3] - The business model focuses on low-priced consumer essentials, which remain in demand during recessions [3] - Dollar General locates stores in rural and neglected urban areas, minimizing rent and labor costs, and offers a no-frills shopping experience [4] - The stock trades at a forward price-to-earnings (P/E) multiple of 17, below the S&P 500 average of 20, with a dividend yield of 2.5% [5] Group 2: Vici Properties - Vici Properties operates in the gambling industry but focuses on real estate, which provides a more stable investment opportunity [6] - The company utilizes triple-net leases, where tenants cover rent and other expenses, maximizing cash flow safety [7] - As a real estate investment trust (REIT), Vici returns a generous 5.3% dividend yield to shareholders [8] - Vici owns iconic properties on the Las Vegas Strip, including Caesars Palace and MGM Grand, and is diversifying into non-casino properties [9] - In 2024, Vici's revenue grew by 6.6% year over year to $976.1 million, with a 4.2% increase in dividend payout, marking the seventh consecutive annual increase since its IPO [10]

Group 1: Company Overview - Dollar General operates in the "dollar store" retail category, focusing on low price points for a variety of products, with over 80% of sales coming from consumer staples [2] - The company has more than 20,000 locations, allowing it to benefit from economies of scale in purchasing, which supports profit margins [4] Group 2: Market Position and Strategy - Dollar General targets underserved areas, with an average store population of around 20,000, providing convenience and low prices compared to larger retailers [3] - The company plans to expand its store footprint by approximately 2% in 2025, indicating ongoing growth opportunities despite recent weak financial results [4] Group 3: Economic Resilience - Dollar General's business model is expected to perform relatively well during economic downturns, making it more resilient compared to many other retailers [5] - The stock has outperformed the S&P 500 by over 30 percentage points, reflecting investor confidence amid economic uncertainty [1] Group 4: Competitive Landscape - Dollar General faces rising costs that have pressured earnings, but it is actively working to control these costs [6] - The recent sale of underperforming Family Dollar locations by Dollar Tree may reduce competition for Dollar General, potentially opening up growth opportunities [8] Group 5: Investment Potential - Given the stock's depressed price, there is potential for further appreciation, especially with modest improvements in business performance [9] - The shifts in the competitive landscape and the company's resilience make it an attractive option for long-term investors concerned about economic conditions [9]

Core Viewpoint - Target Corporation and Dollar General Corporation are leading players in the Retail–Discount Stores industry, with Target focusing on a combination of physical and digital presence, while Dollar General emphasizes value and accessibility for consumers [1][2]. Target Corporation - Target has a market capitalization of approximately $42.9 billion and operates 1,978 stores across the U.S., offering a diverse product range [1]. - The company aims to generate over $15 billion in revenue growth by fiscal 2030 through a strategy that includes opening more than 20 new stores and remodeling existing locations in fiscal 2025 [3][4]. - Target's investments in same-day delivery and digital services have led to a 25% growth in same-day services during the last quarter of fiscal 2024, with Target Circle membership increasing by 13 million in 2024 [4]. - The company plans to invest $4 billion to $5 billion in store remodels, supply-chain expansion, and digital transformation in fiscal 2025 [5]. - Target anticipates a challenging first quarter of fiscal 2025, expecting a year-over-year profit pressure and a slight decline in February net sales [6]. - The guidance for fiscal 2025 includes an expected net sales growth of approximately 1% and adjusted earnings per share (EPS) projected between $8.80 and $9.80, indicating limited upside from the previous year's $8.86 [7]. Dollar General Corporation - Dollar General has a market capitalization of around $21.3 billion and operates over 20,000 stores, focusing on everyday low prices and household essentials [2]. - The company is planning 4,885 real estate projects in fiscal 2025, including 575 new store openings in the U.S. and up to 15 outlets in Mexico, alongside 2,000 remodels and 2,250 upgrades under the "Project Elevate" initiative [9]. - Dollar General's "Project Elevate" has shown first-year comparable sales lifts of 3% to 5%, while "Project Renovate" aims for a 6% to 8% uplift [9]. - The retailer is expanding its digital capabilities, including a partnership with DoorDash for home delivery, currently live in around 400 stores, with plans to expand to 10,000 stores by the end of fiscal 2025 [10]. - Despite strategic initiatives, Dollar General expects a challenging first half of fiscal 2025 due to upfront costs and increased labor expenses, with anticipated EPS decline year-over-year during this period [11]. - Looking ahead, Dollar General targets annual net sales growth of 3.5%-4% starting in fiscal 2025, with same-store sales growth of 2%-3% from fiscal 2026 onward and projected adjusted EPS growth of at least 10% annually starting in 2026 [12]. Comparative Analysis - The Zacks Consensus Estimate for Target's current fiscal year sales implies a year-over-year growth of 0.9%, while Dollar General's sales suggest a growth of 3.7% [13]. - Year-to-date stock performance shows Target shares have declined by 30.3%, while Dollar General shares have increased by 27.7% [14]. - Target's forward price-to-earnings (P/E) ratio is 10.3, below its one-year median of 14.77, whereas Dollar General's forward P/E ratio stands at 17.02, higher than its median of 13.62 [17]. - Overall, Dollar General appears to have a slight edge over Target in terms of strategic momentum and stock performance, despite both companies facing challenges [18].

Dollar General (DG) closed at $96.79 in the latest trading session, marking a +1.23% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 2.51%. Elsewhere, the Dow gained 2.66%, while the tech-heavy Nasdaq added 2.71%.The the stock of discount retailer has risen by 14.97% in the past month, leading the Retail-Wholesale sector's loss of 6.97% and the S&P 500's loss of 8.86%.Market participants will be closely following the financial results of Dollar General in its upcoming ...

Core Insights - Dollar Tree, Inc. and Dollar General Corp. shares are showing signs of a potential breakout, indicating a bullish trend ahead [1][5][6] Supply and Demand Dynamics - Stocks trend higher when there is an imbalance in supply and demand, with more buyers than sellers leading to increased prices [1] - At resistance levels, the number of shares available for sale may equal or exceed those being bought, causing rallies to pause or reverse [2][4] Breakout Indicators - A breakout occurs when buyers overpower sellers at resistance levels, leading to a potential upward price movement [5] - The charts for Dollar General and Dollar Tree suggest they may be on the verge of breaking out, which is typically a bullish signal [5][6] Market Behavior - When a significant amount of supply is removed from the market, it sets the stage for higher prices as buyers may need to outbid each other to attract sellers [6] - This could lead to a bidding war, further driving up the stock prices of Dollar Tree and Dollar General [6]

Disclosure of transactions in on shares from April 14th to April 18th, 2025 Within the framework of the authorization granted by the General Meeting of VINCI SA of April 09th 2024 and then 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 April 14th to April 18th, 2025: I - Aggregate presentation by day and by market Issuer’s name Dat ...