Dollar General full-year, fourth quarter profit rises on higher sales
21 Mar '06
2 min read
Discount retailer Dollar General Corporation has reported sales and earnings for the quarter and fiscal year ended February 3rd 2006 ('fiscal 2005').
The net sales in fiscal 2005 were $8.58 billion, an increase of 12.0 percent over fiscal 2004. The net sales increase for the year was due to the opening of additional net new stores, a 2.0 percent increase in same-store sales, and the impact of the additional week.
The net income for fiscal 2005 increased to $350.2 million, or $1.08 per share, from $344.2 million, or $1.04 per share, in fiscal 2004. During 2005, the company incurred significant losses caused by Hurricane Katrina, which occurred in late August.
Gross profit for fiscal 2005 was $2.46 billion, or 28.7 percent of net sales, compared with $2.26 billion, or 29.5 percent of net sales, in 2004. The decline in gross profit as a percent of sales was due to a number of factors, including lower sales, as a percentage of total sales, in the company's seasonal, home products and basic clothing categories.
The net income for the 2005 fourth quarter was $145.3 million, or $0.46 per share, compared to $133.9 million, or $0.41 per share, in the fourth quarter of fiscal 2004.
The net sales were $2.48 billion, an increase of 12.9 percent over the fourth quarter of fiscal 2004. The net sales increase for the quarter was due to the opening of additional net new stores and the additional week, partially offset by a 1.6 percent decreasein same-store sales, calculated excluding the fourteenth week of the fiscal 2005 period.
marketing@alchempro.com
