Dollar General reports fourth-quarter, fiscal year increases
Goodlettsville, Tenn.-based Dollar General Corp. reported a 8.5 percent increase for fourth-quarter net sales and a 9.2 percent net sales increase for fiscal year 2018. The retailer, which offers Clover Valley, Good & Smart and its DG lines of private brands, said fourth-quarter same-store sales increased 4 percent while fiscal year same-store sales increased 9.2 percent.
Net income was down in the fourth quarter: $483 million compared to $712 million in the fourth quarter of 2017. Dollar General had net income of $1.6 billion for fiscal year 2018 compared to $1.5 billion for fiscal year 2017.
“2018 was a great year for Dollar General and we entered 2019 with a strong foundation for success,” said Todd Vasos, Dollar General’s CEO. “Looking ahead to 2019, we are excited to introduce two new transformational strategic initiatives, DG Fresh and Fast Track. DG Fresh, which is designed to enable self-distribution of fresh and frozen products, is already up and running in approximately 300 stores and Fast Track, which we believe will enhance in-store labor productivity and customer convenience, is launching soon.