Dollar General posts strong quarterly sales, earnings

GOODLETTSVILLE, Tenn. Dollar General reported net income of $75.6 million, or 24 cents per diluted share, for its 13-week third quarter ended Oct. 30, compared with a net loss of $7.3 million, or 2 cents per diluted share, in the comparable 2008 quarter.

Sales for the 2009 quarter increased 12.7% to $2.93 billion compared to $2.60 billion in the third quarter of fiscal 2008. Same-store sales increased 9.2% with customer traffic and average transaction amount contributing to the sales increase.

“This was another great quarter in what has so far been another very strong year for Dollar General,” said Rick Dreiling, chairman and CEO. “Our same-store sales growth of 9.2% in the third quarter reflects the positive customer response to the changes we are making in our store experience and merchandise category management. Overall, we believe that we are on track to deliver excellent results for the full year as we continue to provide our customers quality products and great value in a convenient neighborhood store.”