Goodlettsville, Tenn. — Dollar General Corp. reported record sales, operating profit and net income for both the fourth quarter and the full 2010 fiscal year.
Dollar General Corp. reported record sales, operating profit and net income for both the fourth quarter and the full 2010 fiscal year.
Full-year net income rose 85.3% to $627.9 million, or $1.82 per diluted share, as sales increased 10.5% to $13.04 billion. Same-store sales expanded 4.9%. Operating profit, meanwhile, gained 33.6% to $1.27 billion.
Looking ahead to the current year, Dollar General management expects sales to grow 11% to 13%, including the benefit of an extra, or 53rd, week. Same-store sales, however, are projected to increase between 3% and 5%. Diluted earnings per share are estimated to range between $2.20 and $2.30, based on 346 million weighted average diluted shares.
"We are off to a strong start in 2011," said chairman and chief executive officer Rick Dreiling in a statement. "Even in a challenging macroeconomic environment, we expect to deliver strong financial performance in 2011."