U.S. discounter Dollar General has reported like-for-like sales increased 3.8% in the fourth quarter ended January 28, while for the full year, also ended January 28, like-for-likes increased 4.9%. Fourth quarter net sales increased 9.4% to $3.49 billion. Adjusted operating profit increased 19% to $413 million while net income totaled $223 million, compared to $87 million for the fourth quarter of 2009. Full year net sales increased 10.5% to $13.04 billion. Dollar General attributes the increase in profit to higher net mark-ups due to the company’s focus on category management and increased volumes. This has allowed Dollar General to reduce purchase costs from vendors. The company also expects continued growth in 2011 driven by sales, increased private label penetration, development of more direct sourcing opportunities, continued shrinking improvement, and creating more efficient plans for distribution and transportation. Source: Planet Retail
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