(RTTNews) - Discount retailer Dollar General Corp. (DG:Quote) reported Wednesday a 47 percent rise in second-quarter profit, reflecting about 10 percent growth in net sales and a 5.1 percent increase in same-store sales. Adjusted earnings beat analysts' expectations, while topline missed their view. The company also lifted its adjusted earnings per share guidance for the full year and announced additional $500 million share repurchase authorization. Looking ahead, the company said that volatility of macroeconomic environment continues to pressure consumer and impact its cost of purchasing and delivering merchandise to its stores. Net sales for the quarter grew 10.4 percent to $3.95 billion, slightly lower than analysts' estimate of $3.96 billion. Rick Dreiling, chairman and chief executive officer of the company stated, "Our same-store sales increase of 5.1 percent demonstrates the ongoing execution of the initiatives around our key operating priorities and is evidence of our continued importance to our customers." In the second quarter, the company's net income increased to $214.14 million or $0.64 per share from $146.04 million or $0.42 per share in the previous year. On an adjusted basis, earnings were $0.69 per share. In the prior-year quarter, the company had reported adjusted earnings of $0.52 per share. On average, 23 analysts polled by Thomson Reuters expected earnings per share of $0.64 for the quarter. Analysts' estimates typically exclude one-time items. For the fiscal 2013, Dollar General currently expects adjusted earnings per share in the range of $2.77 to $2.85, up from the prior outlook range of $2.68 to $2.78 per share. The company still anticipates total sales for the year to increase 8 to 9 percent over the 53-week 2011 fiscal year, or 10 to 11 percent on a comparable 52-week basis. Same-store sales, based on a comparable 52-week period, are now expected to increase 4 to 5 percent, compared to the prior expectation of an increase of 3 to 5 percent. Analysts project earnings of $2.81 per share, on revenue of $16.14 billion for the fiscal. In addition, the board has authorized the company to buy up to an additional $500 million of its stock, which is over and above the $15 million remaining under the previous $500 million authorization. In 2012, the company plans to open about 625 new stores, including 40 Dollar General Market stores. DG closed Tuesday's regular trading at $50.66 on the NYSE. In the pre-market activity, the shares are up 1.66 percent.

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