Dollar General reports 11% sales increase in third quarter

GOODLETTSVILLE, Tenn. — Dollar General Corporation today reported financial results for its fiscal year 2022 third quarter ended October 28, 2022.

• Net Sales Increased 11.1% to $9.5 Billion
• Same-Store Sales Increased 6.8%
• Operating Profit Increased 10.5% to $735.5 Million
• Diluted Earnings Per Share (“EPS”) Increased 12.0% to $2.33
• Year-to-Date Cash Flows From Operations of $1.2 Billion
• Board of Directors Declares Quarterly Cash Dividend of $0.55 per share

“We are thankful to our team for their continued dedication to serving others, particularly in a challenging economic and operating environment,” said Jeff Owen, Dollar General’s chief executive officer. “We are pleased with our strong sales growth in the quarter, as well as a modest increase in customer traffic and continued share gains in both consumable and non-consumable product sales, all of which we believe are a testament to the strength of the value and convenience proposition we offer our customers.”

“Despite the cost pressures we experienced during the quarter, as well as challenges within our internal supply chain resulting in higher-than-anticipated distribution and transportation costs, our team was resilient and worked hard to deliver double-digit diluted EPS growth. We believe the majority of these and other gross margin pressures are largely temporary, and we are confident in our plans to drive greater supply chain efficiencies moving forward.”

“We continued to make progress on our strategic initiatives and operating priorities during the quarter, including executing nearly 800 real estate projects. Looking ahead, we are pleased to announce today that we plan to execute approximately 3,170 real estate projects in the United States in fiscal year 20231 , including approximately 1,050 new stores. We are excited about our plans to extend our ability to serve more customers, and believe we are well-positioned to continue delivering long-term sustainable growth and value for our shareholders.”

Categories: Business

1 reply »

  1. If they could just get their aisles unpiled and some similance of order in their stores. Other than that, it beats suffering yourself dealing with Walmart.