Dollar General Sales Rise, Committed to Family Dollar

Reuters

Dollar General Corp (NYSE:DG) reported a 7.8 percent rise in quarterly sales and said it remained committed to buying Family Dollar Stores Inc (NYSE:FDO), which has already agreed to be acquired by Dollar Tree Inc (NASDAQ:DLTR).

Dollar Tree will unseat Dollar General as the No. 1 U.S. deep-discount retailer if it closes the deal with Family Dollar.

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Dollar General's net income slipped to $236.3 million, in the third-quarter ended Oct. 31 from $237.4 million a year earlier. [ID:nBw4q6Dbra]

Earnings per share, however, rose to 78 cents from 74 cents a year earlier due to fewer outstanding shares.

Revenue rose to $4.72 billion from $4.38 billion.

(Reporting by Sruthi Ramakrishnan and Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty)