Dollar General wrapped up a strong fourth quarter and fiscal year performance, capped by the retailer’s 30th consecutive year of same-store sales growth.
Net sales increased 7.6% to $7.2 billion in the fourth quarter of 2019 ended January 31, 2020, compared to $6.6 billion in the fourth quarter of 2018. Same-store sales increased 3.2% compared to the fourth quarter of 2018, driven by increases in both customer traffic and average transaction amount. Same-store sales in the fourth quarter of 2019 included growth in each of the company’s four product categories: consumables, apparel, home and seasonal.
The company reported net income of $535.4 million for the fourth quarter of 2019 compared to $483.2 million in the fourth quarter of 2018. Diluted earnings per share increased to $2.10 for the fourth quarter of 2019 compared to diluted EPS of $1.84 in the fourth quarter of 2018.
For the full fiscal year, net sales increased 8.3% to $27.8 billion, compared to $25.6 billion in fiscal year 2018. Same-store sales increased 3.9% compared to fiscal year 2018, driven by increases in both average transaction amount and customer traffic. Same-store sales in fiscal year 2019 included growth in each of the company’s four product categories: consumables, seasonal, home, and apparel.
The company reported net income of $1.7 billion for fiscal year 2019 compared to $1.6 billion for fiscal year 2018. Diluted EPS increased to $6.64 for fiscal year 2019 compared to diluted EPS of $5.97 in fiscal year 2018.
“We are very pleased with our fourth quarter results, capping off a strong year of performance across the company,” said Todd Vasos, Dollar General’s CEO. “Our full-year results were highlighted by double-digit diluted EPS growth, as well as our 30th consecutive year of same-store sales growth. During the fourth quarter, we delivered a healthy 3.2% increase in same-store sales, as well as strong margin performance. In addition, we executed well across many fronts, including our operating priorities and strategic initiatives. Our value-and-convenience proposition continues to resonate with both new and existing customers, and our unique real estate footprint remains a competitive advantage. As we enter 2020 from a position of strength, we will continue to keep our core customer at the center of all we do, while remaining steadfast in our efforts to deliver long-term shareholder value.”