Dollar General's profit rises on sales gain
The discount chain is drawing budget-conscious shoppers, boosting same-store sales 5.1%.
By Andrea Tse, TheStreet
Net income increased to $141.2 million, or 41 cents a share, from $93.6 million, or 29 cents, the Goodlettsville, Tenn., company said. Sales at stores open at least a year rose 5.1%.
A shaky economy helped Dollar General draw more budget-conscious consumers. The company boosted its full-year earnings forecast to a range of $1.68 to $1.74 a share from $1.62 to $1.69. Analysts were forecasting full-year profit of $1.72 a share.
Excluding one-time items, Dollar General earned 42 cents a share, beating analysts' estimates of a 38-cent profit. Sales grew 11% to $3.21 billion, falling short of estimates for $3.22 billion.
The company plans to open about 600 stores and to remodel or relocate about 500 others this year.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The major averages ended the midweek session on a flat note after spending the day inside narrow ranges. The S&P 500 hovered near the 2,000 mark for the majority of the trading day, but slumped to new lows during the last hour of action. The index then returned to its flat line, where it settled for the day. For the third day in a row, participation left a lot to be desired with just 487 million shares changing hands at the NYSE.
Equity indices opened with slim gains, ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
VIDEO ON MSN MONEY
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'