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Dollar General Q3 rises 14%; ups 2014 expansion to 700 new stores
Goodlettsville, Tenn. – Dollar General delivered some impressive financial results for the third quarter of fiscal 2013 as traffic improved and shoppers spent more per transaction on average. The retailer said it plans to open approximately 700 stores in fiscal 2014 and remodel or relocate approximately 525 locations, expanding store selling square footage by 6% to 7%.
Dollar General’s net income increased by a better-than-expected 14% to $237 million in the 2013 third quarter compared to $208 million in year-ago period.
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Dollar General accelerates expansion, again
A record 700 new Dollar General stores are slated to open in 2014, the company announced Thursday morning after reporting third-quarter results and tempering its full-year sales forecast.
Same-stores sales at Dollar General increased 4.4% and total sales increased 10.5% to $4.38 billion during the third quarter ended Nov. 1. Profits increase 14% to $237 million from $208 million and earnings per share increased 19% to 74 cents from 62 cents.