Dollar General Q4 earnings rise; 635 stores on tap for fiscal 2013

Goodlettsville, Tenn. -- Dollar General reported Monday net income of $317 million for the quarter ended Feb. 1, compared with $293 million in the year-ago period, beating Wall Street expectations. The company also forecasted 2013 sales growth of 10%-12%, slightly below analysts’ views.

Revenue edged up 0.5% to $4.21 billion in the quarter, missing Wall Street’s expected $4.26 billion. Same-store sales rose 3%.

For the full year, profit grew to $953 million from $767 million, and revenue rose 8.2% to $16.02 billion.

“We grew our market share and invested strategically to continue to win with our customers," said Dollar General CEO Rick Dreiling. “These results demonstrate the strength of our business strategy, and we believe we are very well-positioned for future growth.”

The retailer also announced Monday that it would add 635 stores this fiscal year, including 20 of its Dollar General Market stores and 40 Dollar General Plus banners. In addition, the company said it will remodel or relocate 550 stores this year.

Separately, the company announced that EVP and general counsel Susan Lanigan will retire later this year. Dollar General said it will consider both internal and external candidates for her replacement.


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