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VOL. 37 | NO. 35 | Friday, August 30, 2013




Dollar General 2Q results top Street, traffic up

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GOODLETTSVILLE (AP) - Dollar General's second-quarter net income rose 15 percent, driven by increased customer traffic as shoppers hunted for bargains.

The discounter earned $245.5 million, or 75 cents per share, for the period ended Aug. 2. That's up from $214.1 million, or 64 cents per share, a year earlier.

Stripping out a lawsuit settlement, earnings were 77 cents per share. Analysts expected earnings of 74 cents per share, according to a FactSet poll.

Revenue increased 11 percent to $4.39 billion from $3.95 billion. Wall Street predicted $4.35 billion in revenue.

Revenue at stores open at least a year, a key indicator of a retailer's health, climbed 5.1 percent. This metric excludes results from stores recently opened or closed.

The Goodlettsville company said that its revenue was helped by improved traffic and shoppers spending more per transaction, on average.

Sales of consumables like its new tobacco products and candy and snacks were better than non-consumables. But Dollar General said that sales increased for non-consumables such as seasonal items and clothing.

Dollar General Corp. said Wednesday that it still expects full-year adjusted earnings of about $3.15 to $3.22 per share. It also maintained its forecast for revenue to be up 10 percent to 11 percent, which implies $17.62 billion to $17.79 billion, based on 2012's $16.02 billion.

Analysts predict full-year earnings of $3.20 per share on revenue of $17.69 billion.

Dollar General had 10,866 stores in 40 states at quarter's end.

Its shares finished at $53.88 per share on Tuesday. They have slipped from a 52-week high of $56.10 on Aug. 26. But they have risen 36 percent from their low for the past year of $39.73 set on Jan. 3.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0