Dollar General (NYSE:DG) shares are surging today after the discount retailer reported its earnings more than doubled in the fourth quarter.
Profits in the holiday quarter totaled $22.5 million, or $0.64 per share, compared to $87.2 million, or $0.26 per share, in last year’s fourth quarter.
Sales rose 9.4%, to $3.49 billion, on same-store sales growth of 3.8%.
Results beat analyst expectations, as did Dollar General’s forecast of earnings of $2.20 to $2.30 per share for the 2011 fiscal year.
Dollar General said it plans to open about 625 new stores in 2011, and to remodel or relocate 550 stores.
Shares are trading up almost 3.7% Tuesday.
Rival Family Dollar (FDO) is trading up .2%, Dollar Tree (NASDAQ:DLTR) trades up .3%, and 99 Cents Only Stores (NDN) trades down .4%.
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