Dollar General 2Q sales up 11.2%

GOODLETTSVILLE, Tenn. Dollar General reported that sales for the second quarter increased 11.2% to $2.61 billion compared to $2.35 billion in the second quarter of fiscal 2007. Same-store sales increased 10.1% with customer traffic and average transaction amount contributing significantly to the sales increase.

For the second quarter, the company reported net income of $27.7 million compared with a net loss of $68.8 million for the combined predecessor and successor periods in the 2007 second quarter.

In total, the company plans to open approximately 200 new Dollar General stores and to relocate or remodel approximately 400 stores during the year. Year-to-date, the company has opened 125 new stores, closed 11 stores and relocated or remodeled an additional 249 stores. Dollar General continues to expect capital expenditures for the year to be approximately $200 million to $220 million, primarily related to the opening of new stores as well as the remodel and relocation of existing stores and other special initiatives.