US discounter Dollar General has booked an increase in first-quarter profits but cut the top end of its full-year earnings forecast.
In the three months ended 3 May, net profit was up 5.5% to US$220.1m. Operating profit reached $395m, from $384m last year.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Net sales grew 8.5% in the quarter to $4.23bn, while same-store sales increased 2.6% on the back of increases in both customer traffic and average transaction amount.
The company updated its outlook for the year, citing “moderating” sales growth and a lower expected gross profit rate. It is now expecting $3.15-3.22 per share from an earlier forecast of $3.30.
It sees total sales increasing 10-11% over the 2012 fiscal year. Same-store sales are expected to increase 4-5%.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
