• Third Quarter Same-Store Sales Increased 4.0%; Total Sales Improved 10.3%
• Operating Profit Increased 16% to 9.1% of Sales, a New Third Quarter Record
• Adjusted EPS Grew 26% to $0.63 per Diluted Share; Reported EPS Increased 24% to $0.62 per Diluted Share
• Company Updates Outlook for 2012 Adjusted EPS to a Range of $2.82 to $2.85
“Dollar General delivered another solid quarter, and we expect to continue building on our strong track record of success,” said Rick Dreiling, chairman and chief executive officer. “Our same-store sales increased 4.0 percent, on top of a 6.3 percent improvement in the third quarter of 2011 for a two-year stack of 10.3 percent. We had great financial performance across key metrics. Based on these results, we are now forecasting our full year adjusted earnings per share to be in the range of $2.82 to $2.85.”
“Although our performance over the Thanksgiving weekend and start of the holiday season has been encouraging, we continue to be cautious for the remainder of the year. We are facing a significant same-store sales comparison from our 2011 fourth quarter, which included very strong January sales, growing near-term pressures that are impacting our customers’ confidence and spending, and a challenging competitive environment. Dollar General is keenly focused on our ability to capture market share, build and maintain customer loyalty and deliver strong financial returns that support our sustainable growth for the long term.”
Third Quarter 2012 Financial Results
Net income was $208 million, or diluted earnings per share (“EPS”) of $0.62, compared to net income of $171 million, or diluted EPS of $0.50, in the third quarter (13 weeks) of fiscal 2011. For the 2012 third quarter, adjusted net income, as defined in the accompanying table, increased 22 percent to $209.5 million and adjusted EPS increased 26 percent to $0.63 per diluted share.
Sales increased 10.3 percent to $3.96 billion in the 2012 third quarter compared to $3.60 billion in the 2011 third quarter. Same-store sales increased 4.0 percent in the 2012 quarter and 6.3 percent in the 2011 quarter, with increases in customer traffic and average transaction amount contributing to the growth in both periods. Consumables sales continued to increase at a higher rate than non-consumables in the 2012 quarter with the most significant growth in candy and snacks and perishables offerings. Sales growth in home and seasonal categories, as well as certain basic apparel departments, was strong. Overall, hanging apparel sales were weak.
Textiles | On 26th May 2017
There's a new eco-friendly fibre on the anvil—Austrian speciality...
Apparel/Garments | On 26th May 2017
The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...
Max Fashion India
‘Traditional high-street retailers are now willing to offer franchisees to ...
Sedo Treepoint GmbH
We see a higher demand in colour management systems, as customers see big...
Mag Solvics Pvt. Ltd
ITME 2016 exploited our full strength like never before
Technical Absorbents Ltd
Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...
Steve Cole of Xerium Technologies discusses the industry. Xerium is the...
Nature Works LLC
Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...