Dollar General (NYSE:DG) reported that profits were higher, and raised its full year earnings forecast. The company, which prices most of its merchandise under $10, said it earned $214.1 million, or 64 cents per share, in the second quarter, up from $146 million, or 42 cents per share, in the same period last year. Sales increased by 10.4 percent to $3.95 billion, and same store sales were up by 5.1 percent. The company expects to earn $2.77 to $2.85 per share this year.
Shares are higher in early trading.
Competitor Dollar Tree announced last month that earnings were up 26 percent, beating analysts' estimates, while revenues nearly meet estimates.
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