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Article Excerpt
Dollar General Corporation reported net sales of $2.90 billion for its second quarter (13 weeks) ended July 31, 2009, an increase of $292.5 million, or 11.2 percent, over the 2008 second quarter. Same-store sales increased 8.6 percent for the 2009 second quarter following an increase of 10.1 percent for the 2008 second quarter. The Company reported net income for the quarter of $93.6 million, an increase of $65.9 million, or 237.7 percent, over the same period last year.
On August 20, 2009, Dollar General Corporation filed a registration statement on Form S-1 with the United States Securities and Exchange Commission ("SEC") relating to a possible initial public offering of its common stock. The registration statement has not been declared effective by the SEC. As a result, the Company is legally restricted in its ability to discuss its business and will not be hosting a conference call today.
"The results of our efforts to help customers save time and money are reflected in our 8.6 percent same-store sales growth in the second quarter," said Dollar General Chairman and CEO Rick Dreiling. "Our financial results continue to reflect our customers' positive response to the changes we are making in our stores and are evidence of our ability to grow. As always, we remain focused on offering convenience and value through a combination of convenient store locations, a time-saving shopping experience and everyday low prices on quality national and private brand selections of...
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