Dollar General ended its fiscal year on a strong note, reporting another year of record sales and earnings that included its 30th consecutive year of same-store sales growth. The deep discounter will maintain its aggressive real estate strategy in 2020, with plans to open 1,000 locations and relocate 80 existing stores.
Net income totaled $535.4 million, or $2.10 per share, for the period ended January 31, up from $483.2 million, or $1.84 per share, for the same period last year. Analysts had expected earnings of $2.01 per share.
Sales rose 7.6% $7.16 billion, ahead of analysts’ estimates of $7.15 billion. Same-store sales rose 3.2%, also more than expected, driven by increases in both customer traffic and average transaction amount. Same-store sales growth was spread across Dollar General’s four product categories: consumables, apparel, home, and seasonal. For the full year, net sales increased 8.3% to $27.8 billion. Same-store sales increased 3.9%… Chain Store Age
