Dollar General Corporation (NYSE: DG) reported second quarter 2022 earnings results today.
Net sales increased 9% year-over-year to $9.4 billion, driven by positive sales contributions from new stores and growth in same-store sales.
Same-store sales increased 4.6%, driven by increases in average transaction amount and customer traffic.
Net income rose 6.4% to $678 million while EPS grew 10.8% to $2.98 compared to last year. Both revenue and earnings beat expectations.
The company updated its sales guidance for fiscal year 2022 and now expects net sales to grow approx. 11%, versus the previous outlook of 10-10.5%, and same-store sales to grow around 4-4.5% versus the prior range of 3-3.5%. EPS is expected to grow approx. 12-14% for the year.