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Dollar General Lifts Earnings Guidance

Dollar General raised its full-year earnings guidance after second-quarter earnings beat estimates.
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GOODLETTSVILLE, Tenn. (TheStreet) -- Dollar General (DG) - Get Report lifted its full-year earnings guidance to a range of $1.68 to $1.74 a share from $1.62 to $1.69 after reporting consensus-topping second-quarter earnings.

Analysts were forecasting full-year profit of $1.72 a share.

The company also said Tuesday it plans to open about 600 new stores and to remodel or relocate about 500 stores this year.

Excluding one-off items, Dollar General's net income for the second quarter was $145.1 million, or 42 cents a share, compared with net income of $93.6 million, or 29 cents a share a year ago. Sales grew by 10.8% to $3.21 billion.

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Analysts on average were expecting earnings of 38 cents a share on revenue of $3.22 billion.

Same-store sales increased 5.1% during the year's second quarter vs. 8.6% in the 2009 quarter.

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-- Written by Andrea Tse in New York.

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