Dollar General plans to pour an additional $100 million into its stores, primarily in staffing levels, as it looks to attract more bargain-hunting shoppers
posted higher same-store sales for their most recently ended quarters as Americans sought to buy in bulk.
For the three months ended Feb. 3, Dollar General posted a profit of $659.1 million, or $2.96 a share, compared with $597.4 million, or $2.57 a share, in the same period a year earlier. Analysts surveyed by FactSet were expecting earnings of $2.95 a share. Sales for the quarter rose 17.9% to $10.20 billion while same-store sales rose 5.7%. Analysts surveyed by FactSet were expecting sales of $10.24 billion and same-store sales of 5.8%.
For the current fiscal year, Dollar General expects sales to rise 5.5% to 6%, in line with analysts’s expectations. Merchandise inventories, measured at cost, rose 14.3% on a per-store basis from a year earlier to $6.8 billion as of Feb. 3.
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