Dollar General Corp. took advantage of the consumer’s thrifty mindset in the second quarter and more than tripled its profits.
Net income shot up 237.7 percent to $93.6 million on an 11.2 percent rise in sales to $2.9 billion for the quarter ended July 31.
“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,” said Rick Dreiling, chairman and chief executive officer.
Last month, the Goodlettsville, Tenn.-based began the regulatory procedure for a public offering of its shares.
For complete coverage, see Friday’s WWD.