Dollar General Corporation, an American chain of variety stores headquartered in Tennessee, has disclosed financial results for second quarter of the current financial year.
During the reporting quarter, the retailer noted a 2.6 per cent increase in its same-store sales. The rise in store traffic coupled with a surge in customers’ average transaction amount boosted sales.
Additionally, the company’s net sales soared 8.1 per cent to US $ 5.83 billion in the second quarter of 2017 against US $ 5.39 billion in the same quarter of 2016. The increased business at the newly opened stores of Dollar General significantly contributed to the surge in net sales.
During the 2017 26-week period, the company opened 574 new stores and remodelled or relocated 555 of its existing stores across the US.
However, the retailer’s net income in the second quarter declined from US $ 307 million in the same period of last year to US $ 295 million.
“In a dynamic retail and consumer landscape, we continue to make targeted investments in our business to execute on our focused strategic and operating initiatives which we believe will contribute to a substantial improvement over time,” commented Todd Vasos, Dollar General’s Chief Executive Officer.
