Dollar General Q2 profit jumps 47%; raises fiscal year forecast
Goodlettsville, Tenn. -- Dollar General Corp. on Wednesday said it had earned a better-than-expected $214.1 million in the second quarter, ended on Aug. 3, up from $146 million a year earlier. The discounter also raised its earnings forecast for the year.
Sales rose 10.4% to $3.95 billion. Same-store sales increased 5.1%. The company said that consumables sales continued to increase at a higher rate than non-consumables in the quarter, with the most significant growth related to changes in and further expansion of its candy, snacks and perishable foods.
Sales growth was also strong in the home and seasonal categories, as well as certain departments in apparel, including accessories, sleepwear and intimates.
“Dollar General had another strong quarter,” said Rick Dreiling, chairman and CEO. “Our same-store sales increase of 5.1% demonstrates the ongoing execution of the initiatives around our key operating priorities and is evidence of our continued importance to our customers.”