Dollar General sees profits surge in Q2

GOODLETTSVILLE, Tenn. Dollar General reported net sales of $2.9 billion for its second quarter ended July 31, an increase of $292.5 million, or 11.2%, over the 2008 second quarter. Same-store sales increased 8.6% for the 2009 second quarter following an increase of 10.1% for the 2008 second quarter. The Company reported net income for the quarter of $93.6 million, an increase of $65.9 million, or 237.7%, over the same period last year.

“The results of our efforts to help customers save time and money are reflected in our 8.6 percent same-store sales growth in the second quarter,” said Dollar General chairman and CEO Rick Dreiling. “Our financial results continue to reflect our customers’ positive response to the changes we are making in our stores and are evidence of our ability to grow. As always, we remain focused on offering convenience and value through a combination of convenient store locations, a time-saving shopping experience and everyday low prices on quality national and private brand selections of basic merchandise.”

For the full year, the company plans to open approximately 500 new stores and to remodel or relocate 450 stores.