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Dollar General



Dollar General is a fortune 500 publicly traded company listed on the NYSE under the symbol DG. The company has good stock performance results.


Dollar General Corporation reported sales and earnings for the quarter and fiscal year ended February 3, 2006. Net sales in fiscal 2005 were8.58 billion dollars which is 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. Net income for fiscal 2005 increased to 350.2 million dollars, or 1.08 dollar per share, from 344.2 million dollars, or 1.04 Dollar per share, in fiscal 2004.


Proceeds of 8 million dollars relating to this claim were received and recorded by the Company in fiscal 2005, including 6 million dollars recorded in the third quarter and 2 million dollars recorded in the fourth quarter. Until recently, the Company anticipated that it would be able to substantially close out the remainder of this claim in fourth quarter 2005.




 


The gross profit for fiscal 2005 was 2.46 billion dollars, or 28.7 percent of net sales, compared with 2.26 billion dollars, or 29.5 percent of net sales, in 2004. Selling, general and administrative ("SG&A") expenses for fiscal 2005 were 1.90 billion dollars, or 22.2 percent of sales, compared with 1.71 billion dollars, or 22.3 percent of sales, in 2004. Decreases, as a percentage of sales, in employee incentive compensation expense based upon the Company's fiscal 2005 financial performance; lower health benefits expense resulting from decreased claims costs and a downward revision in claim lag assumptions; and a reduction in professional fees, primarily due to the reduction from the 2004 period of consulting fees associated with the EZstore project and Sarbanes-Oxley compliance efforts, were partially offset by higher rental costs and utilities expenses as a percent to sales.


The company’s Interest expense, net of interest income, in 2005 was 17.2 million dollars as compared to 22.2 million dollars in fiscal 2004. Net income for the 2005 fourth quarter was 145.3 million dollars, or 0.46 dollar per share, compared to 133.9 million dollars, or 0.41 dollar per share, in the fourth quarter of fiscal 2004. Net sales were 2.48 billion dollars, an increase of 12.9 percent over the fourth quarter of fiscal 2004. The gross profit during the quarter was 730.9 million dollars or 29.5 percent of sales, versus 660.0 million dollars, or 30.0 percent of sales, in the prior year quarter.




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