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Dollar General Corporation (DG-1.93%) has submitted its Form 10-K filing for the fiscal year ended January 31, 2025.
The filing reports net sales of $40.6 billion, a 5.0% increase from the previous year, driven by new store openings and a 1.4% increase in same-store sales. The increase in same-store sales was primarily due to a rise in customer traffic.
Gross profit increased by 2.5% to $12.0 billion, although the gross profit rate decreased by 70 basis points to 29.6% due to increased markdowns and damages.
Selling, general, and administrative expenses rose by 11.1% to $10.3 billion, representing 25.4% of net sales, primarily due to impairment charges related to store closures and increased labor costs.
Operating profit decreased by 29.9% to $1.71 billion, impacted by higher operating expenses.
Net income for the fiscal year was $1.13 billion, or $5.11 per diluted share, compared to $1.66 billion, or $7.55 per diluted share, in the prior year.
Cash flows from operating activities increased by 25.3% to $2.996 billion, while capital expenditures were $1.31 billion, primarily for new stores and remodels.
The company reported a decrease in inventory levels by 4% and an inventory turnover rate of 4.1 times.
Dollar General plans to open approximately 575 new stores and remodel or relocate over 4,000 stores in 2025.
The company did not repurchase any shares during the fiscal year to maintain financial flexibility and preserve its investment-grade credit rating.
The filing also details various legal proceedings and risks, including shareholder litigation and regulatory compliance challenges.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Dollar General Corporation annual 10-K report dated March 21, 2025. To report an error, please email earnings@qz.com.