Sept 5 Dollar General Corp posted a
higher quarterly profit and raised its earnings forecast for the
year on Wednesday as shoppers visited its stores for low-priced
food and other basic goods.
Dollar General, which prices most of its merchandise below
$10, generally does well when economic concerns such as high
unemployment and food prices push those on limited budgets to
The chain said it had earned $214.1 million, or 64 cents per
share, in the second quarter ended on Aug. 3, up from $146
million, or 42 cents per share, a year earlier.
Sales rose 10.4 percent to $3.95 billion. Sales at stores
open at least a year increased 5.1 percent.
Dollar General said it expected to earn $2.77 to $2.85 per
share this fiscal year, up from a June forecast of $2.68 to
$2.78. The new outlook includes 4 cents per share from the
favorable resolution of an income tax audit, the company said.