GOODLETTSVILLE, Tenn. — Dollar General Corp. here on Tuesday said its second-quarter profits were up more than analysts had expected and that sales were accelerating.
Net income for the 13-week second quarter, which ended July 30, was up about 51%, to $141.2 million, on a sales gain of 10.8%, to $3.21 billion.
Same-store sales were up 5.1%, driven in large part by consumables and including both increased visits and bigger baskets.
“During the second quarter, we saw same-store sales accelerate in the last month, and I am encouraged with sales so far in the third quarter,” said Rick Dreiling, chairman and chief executive officer.
For the 26-week year-to-date period, net income of $277.2 million was up 57% over year-ago results, and sales increased 11.3%, to $6.3 billion, including a 5.9% increase in same-store sales.