Dollar General Corp reported a 7.8 percent rise in quarterly sales and said it remained committed to buying Family Dollar Stores Inc, which has already agreed to be acquired by Dollar Tree Inc. Dollar Tree will unseat Dollar General as the No. 1 U.S. deep-discount retailer if it closes the deal with Family Dollar.Dollar General's net income slipped to $236.3 million, in the third-quarter ended Oct. 31 from $237.4 million a year earlier.Earnings per share, however, rose to 78 cents from 74 cents a year earlier due to fewer outstanding shares.Revenue rose to $4.72 billion from $4.38 billion.
Dollar General Corporation is a discount retailer in the United States by number of stores, with 9,961 stores located in 39 states as of March 2, 2012, primarily in the southern, southwestern, midwestern and eastern United States. Shares of DG fell by 0.86% or $-0.58/share to $66.69. In the past year, the shares have traded as low as $53.00 and as high as $67.95. On average, 3928550 shares of DG exchange hands on a given day and today's volume is recorded at 5168449.
Dollar Tree, Inc. (Dollar Tree) is an operator of discount variety stores offering merchandise at the fixed price. Shares of DLTR traded higher by 0.71% or $0.49/share to $69.20. In the past year, the shares have traded as low as $49.59 and as high as $69.50. On average, 2441980 shares of DLTR exchange hands on a given day and today's volume is recorded at 3745898.
Family Dollar Stores, Inc. (Family Dollar) operates a chain of more than 7,900 general merchandise retail discount stores in 46 states, providing consumers with a selection of merchandise in neighborhood stores. Shares of FDO traded higher by 0.1% or $0.08/share to $79.48. In the past year, the shares have traded as low as $55.64 and as high as $80.97. On average, 1252380 shares of FDO exchange hands on a given day and today's volume is recorded at 2088003.
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