Dollar General sees 4Q sales increase

GOODLETTSVILLE, Tenn. Dollar General reported that sales in the fourth quarter of fiscal 2007 were $2.56 billion compared to $2.55 billion in the fourth quarter of fiscal 2006. Same-store sales increased 0.4% on top of a 5.8% same-store sales increase in the fourth quarter of 2006.

Net income in the fourth quarter was $55.4 million compared to $50.1 million in the fourth quarter of fiscal 2006.

For fiscal 2007, the company reported net sales increased $325.4 million, or 3.5%, to $9.5 billion compared to $9.17 billion in 2006. Same-store sales in fiscal 2007 increased 2.1% and accounted for $186 million of the total sales increase for the year.

In addition, during 2007 the company incurred a net loss of $2.4 million, including an unrealized loss of $4.1 million related to the change in the fair value of interest rate swaps prior to designating such swaps as cash flow hedges, offset by earnings of $1.7 million under the contractual provisions of the swap agreements.

For the year ended Feb. 1,  net loss was $12.8 million compared to net income of $137.9 million for the year ended Feb. 2, 2007.