Luke Sharrett | Bloomberg | Getty Images
A Dollar General store in Scottsville, Kentucky.
Dollar General reported better-than-expected same-store sales on Thursday, as its customers spent more on groceries at the discount retailer’s stores, benefiting from an earlier-than-usual issue of food stamps.
Same-store sales rose 4 percent in the fourth-quarter ended Feb. 1, beating the 2.6 percent increase analysts had estimated, according to IBES data from Refinitiv.
Net sales rose to $6.65 billion from $6.13 billion.
The company also raised its quarterly dividend by 10 percent and increased its share buyback program by $1 billion.
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