Dollar General Sets Profit, Sales Records in Q1
June 4, 2013,
GOODLETTSVILLE, Tenn.-Dollar General began its fiscal year by setting new records for first-quarter net income and net sales.
Net income in the quarter, which ended on May 3, rose 3.1 percent to $220.1 million. Net sales increased 8.5 percent to $4.2 billion, including a pickup of 2.6 percent in same-store sales. Rick Dreiling, Dollar General's chairman and CEO, said the sales gains came largely from strong growth in the consumables category, offset by weaker sales in seasonal and weather-related products.
For the remainder of the year, Dreiling said, Dollar General is projecting same-store sales growth of from 4 to 5 percent, with consumables continuing to provide a key driver. "Sales of non-consumables are expected to remain challenging, and we anticipate a continued shift to lower margin items within consumables and higher inventory shrink," he said.