UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
May
31, 2017
Dollar General Corporation |
(Exact name of registrant as specified in its charter) |
Tennessee |
001-11421 |
61-0502302 |
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
100 Mission Ridge Goodlettsville, Tennessee |
37072 |
|
(Address of principal executive offices) |
(Zip Code) |
Registrant’s
telephone number, including area code:
(615)
855-4000
(Former name or former address, if changed since last report) |
Check the
appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ⃞
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⃞
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On June 1, 2017, Dollar General Corporation (the “Company”) issued a news release regarding results of operations and financial condition for the fiscal 2017 first quarter (13 weeks) ended May 5, 2017. The news release is furnished as Exhibit 99 hereto.
The information contained within this Item 2.02, including the
information in Exhibit 99, shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, and shall
not be deemed incorporated by reference into any filing under the
Securities Act of 1933, as amended.
The Annual Meeting of the Company’s Shareholders (the “Annual Meeting”) was held on May 31, 2017. The following are the final voting results on proposals considered and voted upon by shareholders, each of which is described in more detail in the Company’s definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on April 12, 2017.
The following individuals were elected to serve as directors of the Company, each of whom will hold office until the Annual Meeting of the Company’s Shareholders to be held in 2018 and until his or her successor is duly elected and qualified. Votes were cast as follows:
Name |
Votes
For |
Votes
Against |
Votes
|
Broker
|
||||
Warren F. Bryant | 226,780,695 | 7,449,246 | 85,992 | 13,729,582 | ||||
Michael M. Calbert | 232,631,974 | 1,597,974 | 85,985 | 13,729,582 | ||||
Sandra B. Cochran | 211,940,685 | 21,846,790 | 528,458 | 13,729,582 | ||||
Patricia D. Fili-Krushel | 227,797,451 | 6,434,853 | 83,629 | 13,729,582 | ||||
Paula A. Price | 231,788,633 | 2,443,173 | 84,127 | 13,729,582 | ||||
William C. Rhodes, III | 227,080,580 | 7,149,772 | 85,581 | 13,729,582 | ||||
David B. Rickard | 231,050,822 | 3,177,795 | 87,316 | 13,729,582 | ||||
Todd J. Vasos | 233,689,605 | 540,175 | 86,153 | 13,729,582 |
The material terms of the performance goals under the Company’s Amended and Restated 2007 Stock Incentive Plan for purposes of compensation deductibility under Internal Revenue Code Section 162(m) and the limit on non-employee director compensation set forth in such Plan were approved. Votes were cast as follows:
Votes
For |
Votes
Against |
Votes
Abstaining |
Broker
|
|||
227,314,281 | 6,876,352 | 125,300 | 13,729,582 |
The material terms of the performance goals under the Company’s Amended and Restated Annual Incentive Plan for purposes of compensation deductibility under Internal Revenue Code Section 162(m) were approved. Votes cast were as follows:
Votes
|
Votes
|
Votes
|
Broker
|
|||
230,700,313 | 3,484,388 | 131,232 | 13,729,582 |
The compensation of the Company’s named executive officers was approved on an advisory (non-binding) basis. Votes were cast as follows:
Votes
For |
Votes
Against |
Votes
Abstaining |
Broker
|
|||
221,309,430 | 12,398,430 | 608,073 | 13,729,582 |
The Company’s shareholders selected, on an advisory (non-binding) basis, 1 year as the frequency at which future advisory votes shall be held on the compensation of the Company’s named executive officers. Votes were cast as follows:
|
|
|
Votes
|
Broker
|
||||
192,308,757 | 144,857 | 41,716,953 | 145,366 | 13,729,582 |
In light of this recommendation from the Company’s shareholders, the Company has determined that it will include an advisory (non-binding) shareholder vote on the compensation of the Company’s named executive officers in the Company’s proxy materials every year until the next required advisory vote on the frequency of future advisory votes on named executive officer compensation, which will occur no later than the Company’s Annual Meeting of Shareholders in 2023.
The appointment of Ernst & Young LLP to serve as the Company’s independent registered public accounting firm for fiscal year 2017 was ratified. Votes were cast as follows:
Votes
For |
Votes
Against |
Votes
Abstaining |
||
241,473,292 | 6,444,944 | 127,279 |
ITEM 7.01 REGULATION FD DISCLOSURE.
The information set forth in Item 2.02 above is incorporated herein by reference. The news release also sets forth statements regarding, among other things, the Company’s outlook, as well as the Company’s planned conference call to discuss the reported financial results, the Company’s outlook, and certain other matters, and announces that on May 31, 2017, the Company’s Board of Directors declared a quarterly cash dividend of $0.26 per share on the Company’s outstanding common stock. The dividend will be payable on or before July 25, 2017 to shareholders of record at the close of business on July 11, 2017. The payment of future cash dividends is subject to the Board’s discretion and will depend upon, among other things, the Company’s results of operations, cash requirements, financial condition, contractual restrictions and other factors that the Board may deem relevant in its sole discretion.
The information contained within this Item 7.01, including the information in Exhibit 99, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired. N/A
(b) Pro
forma financial information. N/A
(c) Shell company
transactions. N/A
(d) Exhibits. See Exhibit Index
immediately following the signature page hereto.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: |
June 1, 2017 |
DOLLAR GENERAL CORPORATION |
||
By: |
/s/ Rhonda M. Taylor |
|||
Rhonda M. Taylor |
||||
Executive Vice President and General Counsel |
EXHIBIT INDEX
Exhibit No. |
Description |
|
99 |
News release issued June 1, 2017 |
5
Exhibit 99
Dollar General Corporation Reports First Quarter 2017 Financial Results
GOODLETTSVILLE, Tenn.--(BUSINESS WIRE)--June 1, 2017--Dollar General Corporation (NYSE: DG) today reported financial results for its 2017 first quarter (13 weeks) ended May 5, 2017.
“For the first quarter of 2017, I am pleased with our earnings results which reflect solid management of the business in a difficult retail environment as we overcame our most challenging comparisons from the prior year. Our same-store sales improved as we moved past the delay in income tax refunds and the timing shift of the later Easter holiday. We continue to execute on our focused strategy and implement our operating initiatives which we believe will improve customer traffic and transactions,” said Todd Vasos, Dollar General’s chief executive officer.
First Quarter 2017 Financial Highlights
Net sales increased 6.5 percent to $5.61 billion in the 2017 first quarter compared to $5.27 billion in the 2016 first quarter. Same-store sales in the 2017 first quarter increased 0.7 percent over the 2016 first quarter primarily due to an increase in average transaction amount, partially offset by a decline in traffic. Same-store sales were driven by positive results in the consumables and apparel categories, partially offset by negative results in the home and seasonal categories. The net sales increase was also positively affected by sales from new stores, partially offset by sales from closed stores.
Gross profit, as a percentage of net sales, was 30.3 percent in the 2017 first quarter compared to 30.6 percent in the 2016 first quarter, a decrease of 34 basis points. The gross profit rate decrease was primarily attributable to higher markdowns, primarily for inventory clearance and promotional activities, a greater proportion of sales of consumables, which tend to have a lower gross profit rate as compared to non-consumables, and the mix within consumables. Partially offsetting these items were higher initial inventory markups.
Selling, general and administrative expense (“SG&A”), as a percentage of net sales was 21.8 percent in the 2017 first quarter compared to 21.5 percent in the 2016 first quarter, an increase of 34 basis points as a percentage of net sales. The SG&A increase was primarily attributable to increased labor costs, primarily as a result of the Company’s investment in store manager compensation, and occupancy costs, which increased at a rate greater than the increase in net sales. Partially offsetting these costs were a reduction in advertising costs and lower waste management costs resulting from the Company’s recycling efforts.
The Company’s net income and diluted earnings per share (“EPS”) for the 2017 first quarter were $279 million and $1.02, respectively, compared to net income and diluted EPS of $295 million and $1.03, respectively, in the 2016 first quarter. Diluted EPS for the 2017 first quarter includes a charge of approximately $0.01 related to the early retirement of long-term obligations.
The effective income tax rate in the 2017 first quarter was 37.2 percent compared to 35.4 percent in the 2016 first quarter. The effective income tax rate was higher in the 2017 first quarter due primarily to the recognition of a tax benefit of approximately $9.0 million or $0.03 per diluted share in the 2016 quarter associated with stock-based compensation that did not reoccur in the 2017 quarter.
Merchandise Inventories
As of May 5, 2017, total merchandise inventories, at cost, were $3.30 billion compared to $3.07 billion as of April 29, 2016, an increase of 0.5 percent on a per-store basis.
Capital Expenditures
Total additions to property and equipment in the 2017 first quarter were $144 million, including: $54 million for distribution and transportation-related capital expenditures; $50 million for improvements, upgrades, remodels and relocations of existing stores; and $35 million related to new leased stores, primarily for leasehold improvements, fixtures and equipment.
During the 2017 first quarter, the Company opened 293 new stores and remodeled or relocated 301 stores.
Share Repurchases
The Company repurchased $89 million, or 1.3 million shares, under its share repurchase program in the first quarter of 2017, at an average price of $70.86 per share. Since December 2011 through the end of the first quarter of 2017, the Company has repurchased 75.6 million shares of its common stock at a total cost of $4.7 billion, at an average price of $61.57 per share. The total remaining authorization for future repurchases was approximately $845 million at the end of the 2017 first quarter. The authorization has no expiration date.
Dividend
On May 31, 2017, the Board of Directors declared a regular quarterly cash dividend of $0.26 per share on the Company’s common stock. The second quarter dividend will be payable on July 25, 2017 to shareholders of record at the close of business on July 11, 2017.
Acquisition
In April 2017, the Federal Trade Commission approved the Company’s proposed purchase of 322 store locations in 36 states from a small-box multi-price point retailer. The transaction is expected to close during June 2017, subject to customary closing conditions. The store sites are anticipated to be converted to the Dollar General banner by the end of November 2017. The acquisition of these sites is expected to be incremental to the Company’s 2017 new store growth by approximately 290 new stores over the prior guidance of 1,000 new stores for fiscal 2017.
The Company anticipates sales from the acquired sites to impact fiscal 2017 (as defined below in “Financial Outlook”) net sales by approximately 100 basis points. The Company anticipates the acquisition will be modestly accretive to EPS for the fiscal year. An estimated $0.02 per diluted share charge is forecasted in the second quarter primarily related to lease termination costs for a small number of overlapping store locations, as well as ancillary costs related to the pending store locations.
No assurances can be given that the transaction will be closed or will be closed within the expected timeframe or that the store sites will be converted to the Dollar General banner within the timeframe anticipated. Any failure to close the transaction or a delay in such closing or in the conversion of the store sites to the Dollar General banner would impact the financial estimates and store count outlined above.
Financial Outlook
For the 52-week fiscal year ending February 2, 2018 (“fiscal 2017”), and including the anticipated closing of the transaction discussed above under “Acquisition,” GAAP diluted EPS is forecasted to remain consistent with the prior guidance range of $4.25 to $4.50. Assuming such transaction is consummated as planned and the store sites are converted to the Dollar General banner on the expected timeframe, as detailed above, the Company’s net sales are forecasted to increase by approximately five to seven percent as compared with the prior guidance range of four to six percent and capital expenditures for fiscal 2017 are expected to be in the range of $715 million to $765 million as compared with the prior guidance range of $650 million to $700 million. The Company’s same-store sales growth is unchanged from the prior guidance range of slightly positive to an increase of two percent.
Share repurchases for fiscal 2017 continue to be forecasted to be approximately $450 million.
For fiscal 2017, assuming the closing of the acquisition as discussed above, the Company plans to open approximately 1,290 new stores in addition to remodeling or relocating 760 stores and to reduce the Company’s total projects for remodels and relocations by 140 to allow for organizational capacity to execute the incremental new store growth anticipated to result from the pending acquisition.
Conference Call Information
The Company will hold a conference call on Thursday, June 1, 2017 at 9:00 a.m. CT/10:00 a.m. ET, hosted by Todd Vasos, chief executive officer and John Garratt, chief financial officer. If you wish to participate, please call (855) 576-2641 at least 10 minutes before the conference call is scheduled to begin. The conference ID is 14434844. The call will also be broadcast live online at www.dollargeneral.com under “Investor Information, Conference Calls and Investor Events.” A replay of the conference call will be available through Thursday, June 15, 2017, and will be accessible online or by calling (855) 859-2056. The conference ID for the replay is 14434844.
Forward-Looking Statements
This press release contains forward-looking information, including statements regarding the Company’s outlook, plans and intentions, including, but not limited to, statements made within the quotations of Mr. Vasos and in the sections entitled “Acquisition” and “Financial Outlook”. A reader can identify forward-looking statements because they are not limited to historical fact or they use words such as “outlook,” “may,” “will,” “should,” “could,” “would,” “believe,” “anticipate,” “plan,” “expect,” “estimate,” “forecast,” “confident,” “opportunities,” “goal,” “prospect,” “positioned,” “intend,” “committed,” “continue,” “looking ahead,” “going forward,” “focused on,” or “will likely result,” and similar expressions that concern the Company’s strategy, plans, intentions or beliefs about future occurrences or results. These matters involve risks, uncertainties and other factors that may cause the actual performance of the Company to differ materially from that which the Company expected. Many of these statements are derived from the Company’s operating budgets and forecasts as of the date of this release, which are based on many detailed assumptions that the Company believes are reasonable. However, it is very difficult to predict the effect of known factors on the Company’s future results, and the Company cannot anticipate all factors that could affect future results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties and other factors. Important factors that could cause actual results to differ materially from the expectations expressed in or implied by such forward-looking statements include, but are not limited to:
All forward-looking statements are qualified in their entirety by these and other cautionary statements that the Company makes from time to time in its SEC filings and public communications. The Company cannot assure the reader that it will realize the results or developments the Company anticipates or, even if substantially realized, that they will result in the consequences or affect the Company or its operations in the way the Company expects. Forward-looking statements speak only as of the date made. The Company undertakes no obligation, and specifically disclaims any duty, to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, the Company.
About Dollar General Corporation
Dollar General Corporation has been delivering value to shoppers for over 75 years. Dollar General helps shoppers Save time. Save money. Every day!® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at low everyday prices in convenient neighborhood locations. With 13,601 stores in 44 states as of May 5, 2017, Dollar General is among the largest discount retailers in the United States. In addition to high quality private brands, Dollar General sells products from America's most-trusted brands such as Procter & Gamble, Kimberly-Clark, Unilever, Kellogg's, General Mills, Nabisco, Hanes, PepsiCo and Coca-Cola. Learn more about Dollar General at www.dollargeneral.com.
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES | |||||||||||||||
Condensed Consolidated Balance Sheets | |||||||||||||||
(In thousands) | |||||||||||||||
(Unaudited) | |||||||||||||||
May 5 | April 29 | February 3 | |||||||||||||
2017 | 2016 | 2017 | |||||||||||||
ASSETS | |||||||||||||||
Current assets: | |||||||||||||||
Cash and cash equivalents | $ | 205,977 | $ | 187,687 | $ | 187,915 | |||||||||
Merchandise inventories | 3,300,082 | 3,072,063 | 3,258,785 | ||||||||||||
Income taxes receivable | 10,492 | 6,827 | 11,050 | ||||||||||||
Prepaid expenses and other current assets | 232,398 | 210,769 | 220,021 | ||||||||||||
Total current assets | 3,748,949 | 3,477,346 | 3,677,771 | ||||||||||||
Net property and equipment | 2,487,292 | 2,278,081 | 2,434,456 | ||||||||||||
Goodwill | 4,338,589 | 4,338,589 | 4,338,589 | ||||||||||||
Other intangible assets, net | 1,200,597 | 1,200,904 | 1,200,659 | ||||||||||||
Other assets, net | 20,928 | 21,464 | 20,823 | ||||||||||||
Total assets | $ | 11,796,355 | $ | 11,316,384 | $ | 11,672,298 | |||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||||||
Current liabilities: | |||||||||||||||
Current portion of long-term obligations | $ | 401,188 | $ | 1,526 | $ | 500,950 | |||||||||
Accounts payable | 1,622,776 | 1,447,223 | 1,557,596 | ||||||||||||
Accrued expenses and other | 459,105 | 440,697 | 500,866 | ||||||||||||
Income taxes payable | 208,972 | 122,148 | 63,393 | ||||||||||||
Total current liabilities | 2,692,041 | 2,011,594 | 2,622,805 | ||||||||||||
Long-term obligations | 2,632,090 | 2,989,663 | 2,710,576 | ||||||||||||
Deferred income taxes | 662,485 | 647,626 | 652,841 | ||||||||||||
Other liabilities | 280,858 | 279,118 | 279,782 | ||||||||||||
Total liabilities | 6,267,474 | 5,928,001 | 6,266,004 | ||||||||||||
Commitments and contingencies | |||||||||||||||
Shareholders' equity: | |||||||||||||||
Preferred stock | - | - | - | ||||||||||||
Common stock | 239,947 | 249,096 | 240,811 | ||||||||||||
Additional paid-in capital | 3,157,322 | 3,124,110 | 3,154,606 | ||||||||||||
Retained earnings | 2,136,401 | 2,020,784 | 2,015,867 | ||||||||||||
Accumulated other comprehensive loss | (4,789 | ) | (5,607 | ) | (4,990 | ) | |||||||||
Total shareholders' equity | 5,528,881 | 5,388,383 | 5,406,294 | ||||||||||||
Total liabilities and shareholders' equity | $ | 11,796,355 | $ | 11,316,384 | $ | 11,672,298 |
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES | ||||||||||||||||
Condensed Consolidated Statements of Income | ||||||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||
(Unaudited) | ||||||||||||||||
For the Quarter Ended | ||||||||||||||||
May 5 | % of Net | April 29 | % of Net | |||||||||||||
2017 | Sales | 2016 | Sales | |||||||||||||
Net sales | $ | 5,609,625 | 100.00 | % | $ | 5,265,432 | 100.00 | % | ||||||||
Cost of goods sold | 3,910,642 | 69.71 | 3,652,818 | 69.37 | ||||||||||||
Gross profit | 1,698,983 | 30.29 | 1,612,614 | 30.63 | ||||||||||||
Selling, general and administrative expenses | 1,225,188 | 21.84 | 1,131,871 | 21.50 | ||||||||||||
Operating profit | 473,795 | 8.45 | 480,743 | 9.13 | ||||||||||||
Interest expense | 25,004 | 0.45 | 24,081 | 0.46 | ||||||||||||
Other (income) expense | 3,502 | 0.06 | - | 0.00 | ||||||||||||
Income before income taxes | 445,289 | 7.94 | 456,662 | 8.67 | ||||||||||||
Income tax expense | 165,800 | 2.96 | 161,538 | 3.07 | ||||||||||||
Net income | $ | 279,489 | 4.98 | % | $ | 295,124 | 5.60 | % | ||||||||
Earnings per share: | ||||||||||||||||
Basic | $ | 1.02 | $ | 1.03 | ||||||||||||
Diluted | $ | 1.02 | $ | 1.03 | ||||||||||||
Weighted average shares outstanding: | ||||||||||||||||
Basic | 274,692 | 285,886 | ||||||||||||||
Diluted | 275,215 | 286,978 |
DOLLAR GENERAL CORPORATION AND SUBSIDIARIES | ||||||||||
Condensed Consolidated Statements of Cash Flows | ||||||||||
(In thousands) | ||||||||||
(Unaudited) | ||||||||||
For the 13 Weeks Ended | ||||||||||
May 5 | April 29 | |||||||||
2017 | 2016 | |||||||||
Cash flows from operating activities: | ||||||||||
Net income | $ | 279,489 | $ | 295,124 | ||||||
Adjustments to reconcile net income to net cash from operating activities: |
||||||||||
Depreciation and amortization | 98,586 | 92,324 | ||||||||
Deferred income taxes | 9,516 | 7,541 | ||||||||
Loss on debt retirement, net | 3,502 | - | ||||||||
Noncash share-based compensation | 8,932 | 10,253 | ||||||||
Other noncash (gains) and losses | 2,122 | (440 | ) | |||||||
Change in operating assets and liabilities: | ||||||||||
Merchandise inventories | (42,456 | ) | 3,476 | |||||||
Prepaid expenses and other current assets | (12,342 | ) | (16,676 | ) | ||||||
Accounts payable | 56,630 | (55,267 | ) | |||||||
Accrued expenses and other liabilities | (39,511 | ) | (21,416 | ) | ||||||
Income taxes | 146,137 | 89,294 | ||||||||
Other | (143 | ) | (260 | ) | ||||||
Net cash provided by (used in) operating activities | 510,462 | 403,953 | ||||||||
Cash flows from investing activities: | ||||||||||
Purchases of property and equipment | (143,519 | ) | (98,968 | ) | ||||||
Proceeds from sales of property and equipment | 131 | 323 | ||||||||
Net cash provided by (used in) investing activities | (143,388 | ) | (98,645 | ) | ||||||
Cash flows from financing activities: | ||||||||||
Issuance of long-term obligations | 599,556 | - | ||||||||
Repayments of long-term obligations | (750,275 | ) | (497 | ) | ||||||
Net increase (decrease) in commercial paper outstanding | (22,800 | ) | - | |||||||
Borrowings under revolving credit facilities | - | 751,000 | ||||||||
Repayments of borrowings under revolving credit facilities | - | (731,000 | ) | |||||||
Costs associated with issuance and retirement of debt | (9,460 | ) | - | |||||||
Repurchases of common stock | (88,755 | ) | (230,961 | ) | ||||||
Payments of cash dividends | (71,294 | ) | (71,308 | ) | ||||||
Other equity and related transactions | (5,984 | ) | 7,198 | |||||||
Net cash provided by (used in) financing activities | (349,012 | ) | (275,568 | ) | ||||||
Net increase (decrease) in cash and cash equivalents | 18,062 | 29,740 | ||||||||
Cash and cash equivalents, beginning of period | 187,915 | 157,947 | ||||||||
Cash and cash equivalents, end of period | $ | 205,977 | $ | 187,687 | ||||||
Supplemental cash flow information: | ||||||||||
Cash paid for: | ||||||||||
Interest | $ | 37,917 | $ | 21,477 | ||||||
Income taxes | $ | 8,837 | $ | 64,520 | ||||||
Supplemental schedule of non-cash investing and financing activities: | ||||||||||
Purchases of property and equipment awaiting processing for payment, included in Accounts payable |
$ | 47,464 | $ | 40,285 |
CONTACTS
Dollar General Corporation
Investor Contacts:
Mary
Winn Pilkington, 615-855-5536
or
Matt Hancock, 615-855-4811
or
Media
Contacts:
Dan MacDonald, 615-855-5209
or
Crystal Ghassemi,
615-855-5210