Dollar General expects to exceed 2020 forecasts after surge in quarterly sales
In this article:
May 28 (Reuters) - Dollar General Corp said on Thursday it expects to exceed its annual sales and profit forecasts after the retailer saw a surge in demand from customers stocking up on groceries and household essentials amid the COVID-19 pandemic.
The company's net sales rose to $8.45 billion from $6.62 billion in the first quarter ended May 1. Same-store sales jumped 21.7%.
Dollar General had previously forecast fiscal 2020 net sales to rise 7.5% to 8%. (Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)
