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GOODLETTSVILLE, Tenn. — Dollar General Corp. reported fiscal second quarter earnings of $282.3 million, or 95 cents per diluted share. Revenue was $5.1 billion, with increases in store traffic and transaction value, the company said on Thursday.
Dollar General Corp. reported fiscal second quarter earnings of $282.3 million, or 95 cents per diluted share. Revenue was $5.1 billion, with increases in store traffic and transaction value, the company said on Thursday.
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Net sales rose 7.9% in the 13 weeks ended July 31, the company noted, with same-store sales up 2.8%. Sales growth in consumables was driven by candy and snacks, tobacco products, and perishables, while nonconsumables grew largely through seasonal items, sundries, hardware and housewares.
"Dollar General achieved strong financial performance in the second quarter," remarked Todd Vasos, the company’s chief executive officer.
Vasos also noted that the company posted "robust" gross margin expansion and a 14% increase in diluted earnings per share compared to a year ago.
"We also grew both customer traffic and average ticket for the 30th consecutive quarter when compared to the prior-year quarter," Vasos pointed out. "With new leadership in place for store operations and merchandising, we are well positioned to execute our key initiatives to drive top-line growth over time. Looking ahead to 2016, our team is energized to accelerate our pace of growth as we focus on providing our consumers with everyday-low prices and convenient locations. We remain confident in the long-term growth prospects for Dollar General to deliver strong financial results and healthy cash returns for our shareholders."
The retailer said that it expects full-year earnings to be $3.85 to $3.95 per share.
Dollar General also announced that its board of directors declared a quarterly cash dividend of 22 cents a share on the company’s common stock, payable on September 30 to shareholders of record at the close of business on September 16.
