Dollar General Corp
Dollar General, which sells most of its merchandise for $10 or less, said net income in the first quarter ended May 1 jumped to $83.0 million from $5.9 million a year earlier. Adjusted earnings before interest, income taxes, depreciation and amortization soared 59 percent to $291 million.
As the recession tightens household budgets, more shoppers have flocked to discount chains such as Dollar General, Wal-Mart Stores Inc
Dollar General's quarterly sales rose 15.7 percent to $2.78 billion, while sales at stores open at least a year, or same-store sales, climbed 13.3 percent.
The company, which is owned by private equity group Kohlberg Kravis Roberts & Co
(Reporting by Jessica Wohl in Chicago and Martinne Geller in New York; Editing by Lisa Von Ahn, Dave Zimmerman)