Dollar General Boosts Q4 Net 8.5 Percent; FY Net Up 24.3 Percent
March 25, 2013,
GOODLETTSVILLE, Tenn.-Higher gross margin and reduced interest expense helped Dollar General to firm its net income by 8.5 percent in its fiscal fourth quarter, to $317.4 million.
For the fiscal year ending on Feb. 1, the dollar-store retailer's net income totaled $952.7 million, up 24.3 percent from the prior fiscal year. Net sales rose 0.5 percent in the quarter to $4.2 billion, including a same-store sales increase of 3 percent. For the year, net sales gained 8.2 percent to $16 billion, including a 4.7 percent pickup in same-store sales.
Rick Dreiling, Dollar General's chairman and CEO, termed 2012 "yet another outstanding year...including exceptionally strong fourth-quarter results. We grew our market share and invested strategically to continue to win with our customers."
For the current fiscal year, Dollar General has projected a sales increase of from 10 to 12 percent, with a gain in same-store sales of from 4 to 6 percent. The company cautioned, "The volatility of the macroeconomic environment continues to pressure the consumer ... Management continues to closely monitor customers' responses to the economic and competitive environments."