Dollar General Net Jumps 51 Percent in Second Quarter
August 31, 2010,
GOODLETTSVILLE, Tenn.--Net income for Dollar General totaled $145.2 million in the second quarter, up 51 percent from the second quarter of last year.
The discount retailer managed this strong performance through a net sales gain of 11 percent to $3.2 billion, and a pickup of 101 basis points in gross margin to 32.2 percent. Selling, general and administrative expenses increased by 9.3 percent but fell 32 basis points as a percentage of sales, to 22.9 percent. Same-store sales in the quarter tacked on 5.1 percent.
Based on the second-quarter results, Dollar General now expects sales for all of the 2010 fiscal year to finish 8.5 to 10.5 percent ahead of last year's sales. Same-store sales should rise by from 4 to 6 percent, according to the company's current projections.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.