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Dollar General 1Q profit beats as customers spend more

May 26, 2016

GOODLETTSVILLE, Tenn. (AP) — Discount retailer Dollar General on Thursday posted better-than-expected first-quarter profit as more customers spent more.

Sales at stores open at least a year, considered an important measure of a retailer’s health, rose 2.2 percent in the fiscal first quarter from the same period the year before. More customers came to stores and the average amount they spent rose too.

The Goodlettsville, Tennessee-based reported net income of $295.1 million, or $1.03 per share, in the period ended April 29. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 94 cents per share.

Net income also rose from $253.2 million, or 84 cents per share, the year before.

Revenue rose 7 percent to $5.27 billion. Seven analysts surveyed by Zacks expected a slightly higher increase, to $5.28 billion.

Shares of Dollar General Corp., which has more than 12,700 stores around the country, rose 3.6 percent to $87.15 in premarket trading.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DG at http://www.zacks.com/ap/DG

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Keywords: Dollar General, Earnings Report

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