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Dollar General Q4 earnings rise; 635 stores on tap for fiscal 2013
Goodlettsville, Tenn. -- Dollar General reported Monday net income of $317 million for the quarter ended Feb. 1, compared with $293 million in the year-ago period, beating Wall Street expectations. The company also forecasted 2013 sales growth of 10%-12%, slightly below analysts’ views.
Revenue edged up 0.5% to $4.21 billion in the quarter, missing Wall Street’s expected $4.26 billion. Same-store sales rose 3%.
For the full year, profit grew to $953 million from $767 million, and revenue rose 8.2% to $16.02 billion.
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DG to surpass 11,000 stores in '13
Fourth quarter same store sales increased 3% at Dollar General as the company capped of another record year and indicated it would open 635 stores this year.
Total sales for the company’s 13 week fourth quarter ended February 1, increased 0.5%, to $4.21 billion compared to $4.19 billion during the 14 week fourth quarter the prior year. Excluding the extra week from the prior year’s fourth quarter, sales would have increased 8%. The company said its same store sales increase was driven by consumables and a mix of increased transaction size and customer traffic.