Dollar General posts higher profit, same-store sales up 4 pct
Dec 11 (Reuters) - Dollar General Corp posted higher quarterly profit on Tuesday and remained cautious for the rest of the year despite an encouraging start to the holiday season, as customer confidence and spending were under pressure and it faced challenges from competing discount chains.
Profit rose to $207.7 million, or 62 cents per share, in the fiscal third quarter ended Nov. 2, from $171.2 million, or 50 cents, a year earlier.
Sales increased 10.3 percent to $3.96 billion. Sales at stores open at least a year, or same-store sales, rose 4 percent.
Dollar General, which prices most of its merchandise below $10, generally does well when economic concerns such as high unemployment and rising food prices push those on limited budgets to cut spending.
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