Dollar General profit soars, year view raised

June 4 Mon Jun 4, 2012 4:15pm EDT

June 4 (Reuters) - Dollar General Corp posted a 36 percent jump in quarterly profit and raised its expectations for the year on Monday as momentum the discount chain saw during the holiday season continued in early 2012.

Dollar General earned $213.4 million, or 63 cents per share, in the fiscal first quarter ended on May 4, up from $157.0 million, or 45 cents per share, a year earlier.

Sales rose 13 percent to $3.9 billion. Sales at stores open at least a year, or same-store sales, rose 6.7 percent.

Dollar General now expects to earn $2.68 to $2.78 per share this year, up from a prior target of $2.65 to $2.75. It earned $2.22 per share last year.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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