GOODLETTSVILLE (AP) — Dollar General’s light revenue during the fiscal fourth quarter was outshined by booming sales at established stores and a strong outlook.
The 3.3 percent jump in same-store sales reported on Thursday easily surpassed expectations for 2.5 percent, according to FactSet.
Per-share profit expectations for the year, of $5.95 to $6.15, is also a surprise. Wall Street had been projecting profits of only $4.49, according to FactSet.
Shares jumped more than 8 percent before the opening bell Thursday.
Quarterly same-store sales were fueled by heathier spending per transaction by shoppers, according to Dollar General Corp.
The Goodlettsville, Tennessee, company earned $712.2 million, or $2.63 per share, for the period ended Feb. 2. A year ago it earned $414.2 million, or $1.49 per share.
Earnings, adjusted for pretax gains, were $1.48 per share, which met the expectations of analysts polled by Zacks Investment Research.
Revenue rose to $6.13 billion from $6.01 billion, but was short of Wall Street projections.
For the year, the company reported profit of $1.54 billion, or $5.63 per share. Revenue was reported as $23.47 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DG at https://www.zacks.com/ap/DG