June 3 Discount chain Dollar General Corp reported a lower-than-expected quarterly profit, blaming tough competition, a harsh winter and weak consumer spending.
Net income rose to $222 million, or 72 cents per share, in the first quarter ended May 2, from $220 million, or 67 cents per share, a year earlier.
Net sales increased about 7 percent to $4.52 billion.
Analysts on average expected the company to earn 73 cents per share on revenue of $4.56 billion, according to Thomson Reuters I/B/E/S. (Reporting by Devika Krishna Kumar in Bangalore; Editing by Joyjeet Das)