Dollar General Profit Up 6%

GOODLETTSVILLE, TN-A strong demand for food, paper products and pet supplies pushed second quarter profits up 6% to $76.5 million, or 23 cents per share, for discount retailer Dollar General Corp., beating analysts’ estimates of 21 cents per share and driving the company’s stock up 4%. Company profits were up $4 million over the $71.3 million, or 22 cents per share, earned during the same quarter a year earlier.

The Goodlettsville, TN-based company, which operates 7,712 stores in 30 states, said sales of its seasonal, clothing and home products, as well as food, beauty and cleaning brands helped sales increase 12.5%, better than sales for rivals Wal-Mart, which posted a 10.2% increase and Dollar Tree Stores Inc., which had a 9.2% gain in sales.

“I’m very pleased with the results of our second quarter,” David Perdue, chairman and chief executive officer, said on the conference call to investors and analysts Thursday.