Goodlettsville, Tenn. -- Dollar General Corp.’s first-quarter profit and sales missed Wall Street estimates as the retailer cited an “unfavorable’ winter, increased competition and economic challenges. The company said Tuesday its profit rose to $222.4 million, from $220.1 million year ago. The retailer also reiterated its plans to open 700 stores in fiscal 2014, and remodel, to varying degrees, another 900 existing locations.
Net sales rose to $4.52 billion, from $4.23 billion. Same-store sales rose 1.5% in the quarter.