Dollar General Sets New Profit, Sales Records for Q3
December 5, 2013,
GOODLETTSVILLE, Tenn.-In the face of a challenging economy, Dollar General was able to post new records for net income and sales in its fiscal third quarter ending on Nov. 1.
Net income rose 14.3 percent to $237.4 million, and net sales jumped 10.5 percent to $4.4 billion. Same-store sales in the quarter were up 4.4 percent, thanks to increases in both traffic and average transaction value.
Rick Dreiling, Dollar General's chairman and CEO, said, "Our merchandising initiatives have continued to be successful in driving traffic and sales. We had a solid financial performance across key metrics, including better-than-anticipated gross-margin performance and solid SG&A leverage."
Dollar General said it now expects net sales for the fiscal year as a whole to gain 10 to 10.5 percent over the prior year, including an increase in same-store sales of from 4 to 4.5 percent.