Home / Knowledge / News / Apparel/Garments / Average ticket size up for 26th quarter at Dollar General
Average ticket size up for 26th quarter at Dollar General
01
Sep '14
“Dollar General's second quarter sales trends improved over the first quarter as we grew both customer traffic and average ticket for the 26th consecutive quarter," said Rick Dreiling, Dollar General's CEO.

He also reiterated Dollar General’s commitment to acquire Family Dollar by saying, “We remain firmly committed to the acquisition. The financial benefits of our offer to Family Dollar shareholders are indisputable and potential antitrust issues are manageable and our proposal is both superior and achievable."

Meanwhile, for the second fiscal quarter ending August 2, 2014, Dollar General posted net income of $251 million, or $0.83 per diluted share compared to net income of $245 million, or $0.75 per diluted share, in the second fiscal quarter of 2013.

Net sales rose 7.5 percent to $4.72 billion in the second quarter of 2014 vis-a-vis $4.39 billion from a year ago quarter. The retailer said same-store sales grew 2.1 percent, with increases in both customer traffic and average transaction value.

“The remainder of the sales increase was attributable to new stores, partially offset by sales from closed stores, with home products and apparel reporting solid same-store sales growth”, Dollar General added.

Gross profit, as a percentage of net sales touched 30.8 percent in the second quarter of 2014, down 53 basis points year-on-year. Dollar General attributed the majority of decline in gross profit rate to an increase in markdowns, primarily relating to increased promotional activities.

Selling, general and administrative expense ("SG&A") as a percentage of net sales reached 21.7 percent in the 2014 second quarter compared to 21.9 percent in the 2013 second quarter, a fall of 21 basis points.

Dollar General reported an effective income tax rate of 38.1 percent for the quarter under review versus a rate of 37.4 percent from a year earlier quarter.

"Dollar General's second quarter sales trends improved over the first quarter as we grew both customer traffic and average ticket for the 26th consecutive quarter and our second quarter same-store sales began very strong with a year over year increase in May of more than 3.5 percent”, Rick Dreiling explained

“However, this growth moderated as we moved through June and July given the competitive environment and a consumer who, although resilient in the face of economic uncertainty, remains cautious with her spending”, he informed.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 28th Apr 2016

India clarifies position on export subsidies on cotton

The government has clarified India is not a major user of the export...

Textiles | On 28th Apr 2016

Pakistan’s Commerce Ministry to fund textile research

The Pakistani government has said that it would fund the research...

Courtesy: Pacific Brands

Apparel/Garments | On 28th Apr 2016

HanesBrands to buy top Aus underwear co Pacific Brands

HanesBrands, a leading worldwide marketer of underwear, intimate...

Interviews View All

Anurag Rajpal
American Swan Brand

How will the Union Budget 2014-15 do good to the Indian textile sector? Is ...

Frank Gossmann
Rotorcraft AG

What new innovations did Rotorcraft exhibit at the recent textile...

Engineer Sohail Lashari
Lahore Chamber of Commerce and Industry, LCCI

Should banning import and export of certain textile products be...

Drew Walker
AGY Holding

<i><b>Drew Walker, </b>CEO of AGY says “our main competition in China is...

Paolo Ocleppo
Sandvik Hyperion

<b><i>Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion...

Dr. Razvan Popescu
Bozzetto Group

Dr. Razvan Popescu is the Business Unit Head of the Textile Chemicals...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search