GOODLETTSVILLE, Tenn. Dollar General reported strong fourth-quarter and fiscal-year results Wednesday.
The discount chain said its fourth quarter, which ended Jan. 29, net income totaled $87.2 million, compared with $81.9 million in the same period the prior year. Additionally, sales increased 11.9% to $3.19 billion in the quarter, compared with the year-ago period. Same-store sales increased 7.4%, with customer traffic and average transaction amount contributing to the same-store sales increases. Sales were strongest in the consumables and seasonal categories, Dollar General reported.
Meanwhile, Dollar General reported net income of $339.4 million for the fiscal year, a near 214% spike since fiscal 2008. Full year 2009 net sales were $11.8 billion, an increase of $1.34 billion, or 12.8%, compared with net sales of $10.46 billion in 2008. Same-store sales increased 9.5% in 2009.
“Dollar General had another outstanding year in 2009. We are continuing to execute on our operating priorities with precision and discipline,” said Rick Dreiling, chairman and CEO. “We delivered strong same-store sales growth of 9.5% for the year on top of 9% same-store sales growth in 2008. We completed our second decade of consecutive annual same-store sales growth by providing our customers with value and convenience as we continue to improve our merchandise assortment and upgrade our in-store experience.”