MW:Dollar General profit up; year outlook sharpened
By Robert Daniel
TEL AVIV (MarketWatch) -- Dollar General Corp., DG +3.81% the Goodlettsville, Tenn., discount retailer, reported fiscal second-quarter net income rose 3.4% on 11% higher sales and lifted the low end of its estimated range of earnings for the full year. For the quarter ended July 29, profit reached $146 million, or 42 cents a share, from $141.2 million, or 41 cents, in the year-earlier quarter. Adjusted profit per share was 52 cents versus 42 cents. Net sales rose to $3.58 billion from $3.21 billion. A survey of analysts by FactSet Research produced consensus estimates of 48 cents a share of profit on $3.54 billion of sales. Same-store sales in the quarter rose 5.9%. DG now expects to earn an adjusted $2.22 to $2.30 a share in the fiscal year as sales rise 12% to 14%. FactSet's survey is looking for profit of $2.24 a share on sales up 12% to $14.61 billion.
