Dollar General Boosts Bottom Line by 64 Percent in First Quarter
June 8, 2010,
GOODLETTSVILLE, Tenn.-First-quarter net income ballooned by 64 percent for Dollar General, finishing at $136 million.
The retail chain firmed its bottom line through a 12 percent gain in net sales for the quarter, totaling $3.1 billion, which included a 6.7 percent rise in its same-store sales. Also, Dollar General picked up 136 basis points in its gross margin, to 32.1 percent, and cut 19 percent from its interest expense. These factors helped offset a 29 percent increase in its selling, general and administrative expense.
The company also said it will open 600 new stores and remodel or relocate another 500 stores this year.