Dollar General Corp. (NYSE:DG) reported third quarter profit growth as hurricanes in the US boosted sales at the variety store chain.
Net income increased to US$252.5mln, or 93 cents a share, in the three months to 3 November from US$235.3mln, or 84 cents a year, a year ago.
Sales at stores open at least year grew 4.3% as hurricanes in the southern states led to higher spending and increased customer traffic.
For fiscal year 2018, the company plans to open 900 new stores, remodel 1,000 stores and relocate 100 stores.
“We continue to believe that investing in the business through our high-return new store growth is the best use of our capital to help drive long-term shareholder value,” said chief executive Todd Vasos.
“Our new store growth is complemented with a significant increase in our store remodel program from fiscal 2017 that we view as an investment to enhance and consistently deliver on our brand promise to help our customers save time and money every day.”