1. News
June 3, 2014

Discount retailer Dollar General profits up in Q1

Discount retailer Dollar General reported a net income of $222.40m or $0.72 per share for the first quarter, higher than $220.08m or $0.67 per share in the prior-year quarter, which included net charges of $0.04 per share.

Discount retailer Dollar General reported a net income of $222.40m or $0.72 per share for the first quarter, higher than $220.08m or $0.67 per share in the prior-year quarter, which included net charges of $0.04 per share.

Net sales for the quarter grew 6.8% to $4.52bn from $4.23bn in the same quarter last year.

Same-store sales for the quarter improved 1.5%, with increases in both customer traffic and average transaction value as well as growth in consumables business amid increased sales of tobacco products.

However, the company said sales were negatively impacted by unfavorable weather conditions, a competitive retail environment and continued financial pressures on the company’s core customers.

Consumables sales grew 7.8% to $3.45bn, and seasonal sales increased 2.3% to $541m from the year-ago quarter.

During the period, home products sales improved 6.7% to $284m, and seasonal sales advanced 3.2% to $252m from the prior-year quarter.

Dollar General is a small box discount retail store chain operator in the US.

The store chain offers a wide assortment of merchandise, including consumables, seasonal, home products and apparel. Dollar General offers merchandize of various national brands along with other private label range.

As of March 2013, the company operated 10,557 stores primarily located across more than 40 southern, southwestern, eastern and mid western states of US.