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): March 8, 2001
Tennessee 001-11421 61-0502302
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(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
100 Mission Ridge
Goodlettsville, Tennessee 37072
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(Address of Principal Executive Offices) (Zip Code)
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(Former name or former address, if changed since last report)
ITEM 9. REGULATION FD DISCLOSURE
On March 8, 2001, Dollar General Corporation (the "Company") issued a news release (a copy of which is incorporated herein by reference and attached hereto as Exhibit 99) with respect to February sales results and March expectations. The Company is filing this 8-K pursuant to the Securities and Exchange Commission's Regulation FD.
SIGNATURES
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 thereunto duly authorized.
DOLLAR GENERAL CORPORATION
(Registrant)
March 8, 2001 By: /s/ Bob Carpenter
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Bob Carpenter
President
and Chief Operating Officer
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Exhibit Index
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Exhibit No. Item
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99 News Release Issued by Dollar General Corporation dated
March 8, 2001
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Exhibit 99
Investor Contact:
Kiley Fleming
(615) 855-5525
DOLLAR GENERAL REPORTS INCREASED SALES FOR THE MONTH OF February
GOODLETTSVILLE, Tenn. - March 8, 2001 - Dollar General Corporation (NYSE: DG) today reported total retail sales for the four-week fiscal period ended March 2, 2001, equaled $367.1 million compared with $307.2 million for the four-week period ended February 25, 2000, an increase of 19.5 percent. Due to the Company's 53-week fiscal year in 2000, the Company's fiscal and calendar periods in 2001 do not coincide. For the four-week calendar period ended March 2, 2001, total sales increased 18 percent and same-store sales increased 4.7 percent compared with sales for the four-week period ended March 3, 2000.
Outlook:
For the five-week fiscal period of March, the Company expects total sales to increase 15-17 percent. For the five-week calendar period, same-store sales are expected to increase 1-3 percent compared with sales last year. March sales will be released on Thursday, April 12, 2001.
Weekly sales trends are announced on Mondays after the market closes and can be attained online at www.dollargeneral.com or by calling (615) 855-5529.
For the first quarter, total company revenues and same-store sales are expected to increase 15-17 percent and 2-4 percent, respectively, as compared with the first quarter of 2000. The Company anticipates opening 200-250 stores in the quarter. Gross profit as a percentage of net sales is expected to be flat to down slightly compared with 2000. Based on current sales expectations, management anticipates operating expenses as a percentage of net sales will increase 0.50-0.60% compared with 2000. Interest expense as a percentage of net sales is expected to increase 0.20-0.25%, reflecting higher borrowings and higher interest rates compared with the first quarter of last year. The tax rate is expected to be approximately 36.25%. Using this guidance, management expects to report earnings per share of $0.13-0.14 for the first quarter ending May 4, 2001.
Dollar General operates more than 5,000 neighborhood stores in 25 states.
This press release contains historical and forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company believes the assumptions underlying these forward-looking statements are reasonable; however, any of the assumptions could be inaccurate, and therefore, actual results may differ materially from those projected in the forward-looking statements as a result of certain risks and uncertainties, including, but not limited to, general transportation and distribution delays or interruptions, inventory risks due to shifts in market demand, changes in product mix, interruptions in suppliers' business, fuel price and interest rate fluctuations, and costs and delays associated with building, opening and operating new distribution centers ("DCs") and stores. The Company undertakes no obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events or circumstances occurring after the date of this report or to reflect the occurrence of unanticipated events.
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