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Dollar General puts up strong 3Q

Goodlettsville, Tenn. - Dollar General already operates more U.S. stores than any other general merchandise retailer, and next year it's stomping on the accelerator.
The retailer plans to add roughly 700 new stores to its current roster of more than 11,000 units. In addition, Dollar General will remodel or relocate some 525 stores, the company announced today along with its third quarter earnings.
"Looking ahead, while we are cautious on the current macroeconomic trends, we remain excited about the long-term growth prospects for our business," said Rick Dreiling, chairman and ceo.
Although third quarter comp increases were described as "solid" in home and seasonal, same-store sales growth in consumables such as tobacco, perishables, candy and snacks continue to outpace all other categories.
For the quarter ended Nov. 1, total sales jumped 10.5% to $4.38 billion, with same-store sales up 4.4%. Net income rose 14% to $237 million, with earnings per share up 19% to 74 cents.
Year-to-date, sales were up 10.1% to $13.0 billion, with comps up 4.0%. Net income climbed 10.7% year-over-year to $703 million, or $2.16 per share.

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