Dollar General Posts Lower Profit
Chicago, Dollar General reported earnings for the quarter that ended Aug. 4 of $45.5 million, down 40% from $75.6 million a year earlier. Comp-store sales rose 3.2% in the quarter, while sales for the quarter rose 9% to $2.25 billion, helped by the addition of 466 net new stores. The company said fierce competition and a slowdown in consumer discretionary spending heightened uncertainty about the second half of the year.
Dollar General also reported that August same-store sales rose 4.8% and total sales for the four weeks that ended Aug. 25 rose 10.1% to $687.2 million.