Dollar General profit up sharply

HTT Staff -- Home Textiles Today, 3/22/2011 2:42:11 PM

Goodlettesville, Tenn. - Dollar General wrapped up the fiscal calendar with strong fourth quarter and full-year profits.
Net income from the fourth quarter, ended Jan. 28, more than doubled to $233 million, or 64 cents per share, compared to $87 million, or 26 cents per share in the prior year's fourth quarter.
Sales rose 9.4% to $3.49 billion, with same-stores rising 3.8% on top of a 7.4% comparison from the year-ago 4Q.
For the full year, Dollar General net income jumped 53% to $649 million, or $1.88 per share.
Sales rose 10.5% to $13.04 billion, with comps up 4.9%.
"Dollar General had a great year in 2010," said Rick Dreiling, chairman and ceo. "We are off to a strong start in 2011."
In the new fiscal year, the company expects sales to rise 11% to 13% with comp growth of 3% to 5%.