Strong 2010 financial outlook - Dollar General

02 Apr '10

4 min read

For 2010, the Company expects total sales to increase eight to ten percent, including an increase in same-store sales of four to six percent. Operating profit is expected to increase 15 to 20 percent over full year 2009 adjusted operating profit, driven by sales, gross profit rate improvements related to increased penetration of the Company's private brands, development of additional direct sourcing opportunities, additional shrink improvement and distribution and transportation efficiencies, and further transformation of the Company's seasonal, home and apparel categories, in addition to improved expense management. Diluted earnings per share for the year is expected to be approximately $1.55 to $1.63, based on weighted average diluted shares of 345 million, and a full year 2010 tax rate in the range of 38 to 39 percent.

The Company plans to open approximately 600 new stores and to remodel or relocate a total of approximately 500 stores in 2010. Capital expenditures are expected to be in the range of $325 million to $350 million, with approximately 50 percent relating to new stores, remodels and relocations, 25 percent for maintenance capital and 25 percent for special projects, including the expansion of the 78-inch store profile and point-of-sale upgrades.

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Dollar General Corporation

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