Dollar General 3Q net income rises 21 pct
Based on its results for the third quarter and its expectations for the rest of the year, Dollar General said it now expects to post an adjusted profit for the full-year of $2.82 to $2.85 per share. The guidance includes a gain of about 4 cents per share related to the favorable resolution of tax audits in the second quarter.
Sales are expected to grow between 8 and 8.5 percent. Based on the company's 2011 revenue of $14.81 billion, the guidance projects 2012 revenue of $15.99 billion to $16.07 billion.
The company's previously projected an adjusted profit of between $2.77 and $2.85 per share, including the tax settlement, on sales growth of 4 to 5 percent. Analysts expect a profit of $2.85 per share on $16.12 billion in revenue.
Dollar General also said it expects to open about 625 new stores this year, with 479 of those opened by the end of the third quarter, bringing its total to 10,371 as of Nov. 2. The company said it expects to open about 635 more new stores in fiscal 2013.
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