August 30, 2011 – CHICAGO (Reuters) - Dollar General Corp <DG.N> posted higher quarterly profit and raised the low end of its sales and profit expectations for the year on Tuesday, as it worked to balance demand for low-priced goods with manufacturers' push to raise prices.
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The retailer earned $146 million, or 42 cents per share, in the fiscal second quarter that ended on July 29, up from $141 million, or 41 cents per share, a year earlier.
Excluding items, it earned 52 cents per share.
Dollar General, which has more than 9,640 stores, more than any other chain in the United States, said sales rose 11.2 percent to $3.58 billion. Sales at stores open at least a year, or same-store sales, increased 5.9 percent.
Dollar General, majority-owned by private equity firm Kohlberg Kravis Roberts & Co LP <KKR.UL>, now expects to earn $2.22 to $2.30 per share for its 53-week fiscal year, versus a prior forecast of $2.20 to $2.30 per share.
(Reporting by Jessica Wohl; editing by Jeffrey Benkoe)