Dollar General profits on the rise

Hogsett, Don
December 2003
Home Textiles Today;12/15/2003, Vol. 25 Issue 15, p25
Trade Publication
Fueled by stronger sales, substantially wider margins and deep cuts in interest expense, third-quarter profits at Dollar General Corp. climbed by 13.6 percent, to $77.9 million from $68.6 million last year. Sales at the nationwide chain of neighborhood stores advanced by 12.5 percent, to $1.7 billion from $1.5 billion last year, driven by continued rapid expansion. Same-store sales rose at a more moderate pace of 3.8 percent. As China produces more of its own cotton, its net imports are forecast to decline to 950,000 tons, down about 200,000 tons. As a result of the lower worldwide consumption, and a lower anticipated rate of imports from China, prices are projected to drop to $0.53 per pound in 2004/05, down $0.12 from the projected average for this season, a decline in price of 18.5 percent.


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