Dollar General Net Climbs 34 Percent in Third Quarter
December 5, 2011,
GOODLETTSVILLE, Tenn.-Third-quarter net income for Dollar General totaled $171.2 million, a robust 34 percent ahead of the third quarter of last year.
Increased sales and expense controls powered the dollar-store retailer to its bottom-line gain in the quarter, which ended on Oct. 28. Net sales were up 11.5 percent to $3.6 billion, including a same-store sales rise of 6.3 percent. Rick Dreiling, Dollar General's chairman and CEO, said the third quarter was the third consecutive period in which the retailer's same-store sales growth outdid the results from the prior quarter.
Dreiling also said Dollar General's November sales were "strong. Our Thanksgiving week and Black Friday sales suggest that we are well positioned to meet our customers' expectations" for the remainder of the holidays, he added.