GOODLETTSVILLE, Tenn. -- Dollar General here said Monday that an ongoing inventory and real estate restructuring brought profits down by 66% in the fiscal fourth quarter and contributed to an annual earnings decline of 60.6%. A plan to abandon its traditional “packaway” inventory strategy with closeout sales helped increase sales by 3% to $2.6 billion for the quarter, but profits fell to $50.1 million, and profit as a percentage of sales fell from 29.5% to 25.3%, Dollar General said. The ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’sFREE, easy and quick. What are you waiting for!In addition you will also receive complimentary access to the SN salary survey data tables.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.