Dollar(DG)2025-06-03 10:59Financial Performance - Net sales increased by 5.3% to 9.9 billion in Q1 2024[4] - Operating profit increased by 5.5% to 546.1 million in Q1 2024[7] - Diluted earnings per share (EPS) rose by 7.9% to 1.65 in Q1 2024[9] - Net income for the quarter was 363,317,000 in the prior year[31] - Earnings per share for the quarter were 1.65 in the same quarter last year[31] Sales and Revenue Growth - Same-store sales rose by 2.4%, driven by a 2.7% increase in average transaction amount, despite a 0.3% decrease in customer traffic[4] - The company expects net sales growth of approximately 3.7% to 4.7% for fiscal year 2025, an increase from the previous expectation of 3.4% to 4.4%[16] - For the quarter ended May 2, 2025, net sales increased by 5.3% to 9,914,021,000 for the same period in 2024[31] Profitability Metrics - Gross profit as a percentage of net sales improved to 31.0%, up from 30.2% in Q1 2024, an increase of 78 basis points[6] - Gross profit margin improved to 30.96% from 30.18% year-over-year, with gross profit amounting to 847.2 million[5] - Cash and cash equivalents at the end of the period were 932,576,000 at the beginning of the period[33] Inventory and Assets - Total merchandise inventories decreased by 7.0% to 6.9 billion as of May 3, 2024[10] - The company reported a decrease in merchandise inventories to 6,934,389,000 year-over-year[29] - Total assets decreased slightly to 31,132,733,000 at the end of January 2025[29] Expenses and Liabilities - Selling, general and administrative expenses increased to 23,283,998,000, a decrease from 5.20 to 5.10 to $5.80[16] - The company plans to execute approximately 4,885 real estate projects in fiscal year 2025, including opening about 575 new stores in the U.S.[18] - The company opened 156 new stores during the quarter, resulting in a total store count of 20,582, a net decrease of 12 stores[37]