Dollar General profit surges 52%, lifts outlook
Goodlettsville, Tenn. Dollar General Corp. said Tuesday that its net income rose 52% as more customers shopped the discount store and spent more money when they did. The chain boosted its full-year profit outlook.
For the period that ended in late July, the retailer earned $141.2 million. Excluding an early repayment of some long-term debt, the company earned $145.1 million. Last year, Dollar General posted net income of $93.6 million.
Revenue of the quarter rose 10.8% to $3.21 billion. Same-store sales were up 5.1%.
As previously announced, Dollar General plans to open 600 new stores and remodels or relocates another 500 stores in its current fiscal year.