Dollar General beats estimates with record results

Goodlettsville, Tenn. – Dollar General reported record net income and sales for the second quarter of this year. In addition, same-store sales growth beat analyst estimates by almost a full percentage point.



Net income increased by 15% to $245 million in the second quarter of fiscal 2013, compared to net income of $214 million in the second quarter of the prior fiscal year. Net sales increased 11.3% to $4.39 billion, compared to $3.95 billion in the second quarter of the previous year. Analysts had expected net sales of $4.36 billion.



Same-store sales increased 5.1%, compared to analyst predictions of 4.2%, with increases in both customer traffic and average transaction value. Consumables sales continued to increase at a higher rate than non-consumables in the 2013 quarter, with the most significant growth related to newly introduced tobacco products and strong sales of perishables and candy and snacks.



“We are very pleased with the increase in customer traffic in our stores,” said Rick Dreiling, Dollar General's chairman and CEO. “We continue to grow our market share and believe that our second quarter results position us well to deliver our financial outlook for the year."



For the 2013 fiscal year, the company expects total sales to increase 10% to 11% and same-store sales to increase 4 to 5%.