Dollar General Q1 profit climbs 15%, on track to open 625 stores
Goodlettsville, Tenn. -- Dollar General Corp. reported Wednesday that profit for the quarter ended April 29 surged 15% to $157 million, compared with $136 million in the year-ago period.
Revenue rose 11% to $3.45 billion from $3.11 billion, beating Wall Street expectations of $3.42 billion. Same-store sales climbed 5.4%.
The discounter plans to open about 625 new stores and to remodel or relocate 550 stores in 2011. Capital expenditures are expected to be in the range of $550 million to $600 million, according to Dollar General.