-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PZSNTLWJ8Vw14LxnRP7tg1R1cFgh7bXk0VnoSZySSeI+CW5cqurmYejWRthSAp6E cmsrX3YvoaWRNRFDtfyk+g== 0000029534-98-000036.txt : 19981215 0000029534-98-000036.hdr.sgml : 19981215 ACCESSION NUMBER: 0000029534-98-000036 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981030 FILED AS OF DATE: 19981214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOLLAR GENERAL CORP CENTRAL INDEX KEY: 0000029534 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 610502302 STATE OF INCORPORATION: TN FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-11421 FILM NUMBER: 98768648 BUSINESS ADDRESS: STREET 1: 104 WOODMONT BLVD STE 500 CITY: NASHVILLE STATE: TN ZIP: 37205 BUSINESS PHONE: 6157832156 MAIL ADDRESS: STREET 1: 104 WOODMONT BLVD STE 500 CITY: NASHVILLE STATE: TN ZIP: 37205 FORMER COMPANY: FORMER CONFORMED NAME: TURNER CAL DATE OF NAME CHANGE: 19710401 FORMER COMPANY: FORMER CONFORMED NAME: TURNER J L & SON INC DATE OF NAME CHANGE: 19710401 10-Q 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 30, 1998 Commission file number 1-11421 DOLLAR GENERAL CORPORATION (Exact name of registrant as specified in its charter) TENNESSEE (State or other jurisdiction of incorporation or organization) 61-0502302 (I.R.S. employer identification no.) 104 Woodmont Blvd. Suite 500 Nashville, Tennessee 37205 (Address of principal executive offices, zip code) Registrant's telephone number, including area code: (615) 783-2000 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No____. The number of shares of common stock outstanding at December 7, 1998 was 209,696,046. Dollar General Corporation Form 10-Q For the Quarter Ended October 30, 1998 Index Part I. Financial Information Item 1. Financial Statements (unaudited): Consolidated Balance Sheets as of October 30, 1998, January 30, 1998 (derived from the audited financial statements) and October 31, 1997. Consolidated Statements of Income for the three months and nine months ended October 30, 1998 and October 31, 1997. Consolidated Statements of Cash Flows for the nine months ended October 30, 1998 and October 31, 1997. Notes to Consolidated Financial Statements Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Part II. Other Information Item 4. Submission of Matters to a Vote of Security Holders Item 6. Exhibits and Reports on Form 8-K Signatures PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS DOLLAR GENERAL CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In thousands) Oct. 30, Jan.30, Oct. 31, 1998 1998 1997 (Unaudited) * (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 18,254 $7,128 $ 13,168 Merchandise inventories 944,266 631,954 737,263 Deferred income taxes 6,233 5,743 3,776 Other current assets 34,692 21,884 21,694 Total current assets 1,003,445 666,709 775,901 Property and equipment, at cost 477,281 391,911 378,506 Less: accumulated depreciation 188,241 150,466 140,404 289,040 241,445 238,102 Other assets 6,498 6,684 5,595 Total assets $1,298,983 $ 914,838 $1,019,598 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of long-term debt$ 649 $ 1,450 $ 1,597 Short-term borrowings 259,679 21,933 193,583 Accounts payable 280,776 179,958 210,845 Accrued expenses 85,398 92,027 75,547 Income taxes 8,026 12,343 14,363 Total current liabilities 634,528 307,711 495,935 Long-term debt 189 1,294 1,411 Deferred income taxes 12,277 21,937 5,360 Shareholders' equity: Preferred stock 858 858 858 Common stock 105,510 83,526 66,660 Additional paid-in capital 415,762 379,954 373,234 Retained earnings 366,439 320,085 276,667 888,569 784,423 717,419 Less treasury stock 236,580 200,527 200,527 Total shareholders' equity 651,989 583,896 516,892 Total liabilities and shareholders' equity $1,298,983 $ 914,838 $1,019,598 * Derived from the January 30, 1998 audited financial statements The accompanying notes are an integral part of these consolidated financial statements. DOLLAR GENERAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In thousands except per share amounts) (Unaudited) Three Months Ended Nine Months Ended Oct. 30, Oct. 31, Oct. 30, Oct. 31, 1998 1997 1998 1997 Net Sales $781,389 $649,400 $2,228,004 $1,766,234 Cost of goods sold 556,655 465,616 1,607,457 1,280,439 Gross profit 224,734 183,784 620,547 485,795 Selling, general and administrative expense 158,445 128,220 449,786 355,254 Operating profit 66,289 55,564 170,761 130,541 Interest expense 3,315 1,559 6,285 2,625 Income before taxes on income 62,974 54,005 164,476 127,916 Provision for taxes on income 22,636 20,387 60,445 48,288 Net income $ 40,338 $ 33,618 $104,031 $ 79,628 Diluted earnings per share $ 0.19 $ 0.16 $ 0.48 $ 0.37 Weighted average diluted shares 214,673 215,356 214,763 214,475 Basic earnings per share $ 0.22 $ 0.19 $ 0.57 $ 0.44 The accompanying notes are an integral part of these consolidated financial statements. DOLLAR GENERAL CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) Nine Months Ended Oct. 30, Oct. 31, 1998 1997 Operating activities: Net income $104,031 $ 79,628 Adjustments to reconcile net income to net cash (used in) provided by operating activities: Depreciation and amortization 38,825 27,750 Deferred income taxes (10,150) (298) Change in operating assets and liabilities: Merchandise inventories (312,312) (261,160) Other current assets (12,808) (3,191) Accounts payable 100,818 107,322 Accrued expenses (6,629) 5,106 Income taxes (4,317) 4,361 Other 1,751 343 Net cash (used in) provided by operating activities (100,791) (40,139) Investing activities: Purchase of property and equipment (104,090) (92,313) Proceeds from sale of property and equipment 16,105 33,811 Net cash (used in) investing activities (87,985) (58,502) Financing activities: Issuance of short-term borrowings 358,078 170,892 Repayments of short-term borrowings (120,332) (15,777) Issuance of long-term debt 0 190 Repayments of long-term debt (1,906) (1,794) Payments of cash dividend (20,960) (17,562) Proceeds from exercise of stock options 27,247 26,072 Repurchase of common stock (73,236) (75,123) Tax benefit of stock options exercised 30,256 17,748 Other 755 600 Net cash provided by (used in) financing activities 199,902 105,246 Net increase in cash and cash equivalents 11,126 6,605 Cash and cash equivalents, beginning of period 7,128 6,563 Cash and cash equivalents, end of period $ 18,254 $ 13,168 The accompanying notes are an integral part of these consolidated financial statements. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 1. Basis of Presentation The accompanying consolidated financial statements are presented in accordance with the requirements of Form 10-Q and consequently do not include all of the disclosures normally required by generally accepted accounting principles or those normally made in the Company's Annual Report on Form 10-K. Accordingly, the reader of the quarterly report on Form 10-Q should refer to the Company's Annual Report on Form 10-K for the year ended January 30, 1998 for additional information. The accompanying consolidated financial statements have been prepared in accordance with the Company's customary accounting practices and have not been audited. In management's opinion, all adjustments (which are of a normal recurring nature) necessary for a fair presentation of the consolidated results of operations for the three-month and nine-month periods ended October 30, 1998 and October 31, 1997, respectively, have been made. Interim cost of goods sold is determined using estimates of inventory shrinkage, inflation, and markdowns which are adjusted to reflect actual results at year end. Because of the seasonal nature of the Company's business, the results for interim periods are not necessarily indicative of the results to be expected for the entire year. 2. Shareholders' Equity Changes in shareholders' equity for the nine months ended October 30, 1998 and October 31, 1997 were as follows (dollars in thousands except per share amounts):
Additional Preferred Common Paid-In Retained Treasury Stock Stock Capital Earnings Stock Total Balances, January 31, 1997 $ 858 $53,105 $329,948 $302,145 ($200,527) $485,529 Net income 79,628 79,628 5-for-4 stock split, September 22, 1997 13,416 (13,416) Cash dividend, $.13 per common share, as declared (15,132) (15,132) Cash dividend, $1.42 per preferred share (2,430) (2,430) Issuance of common stock under employee stock incentive plans 1,119 24,953 26,072 Stock repurchased (995) (74,128) (75,123) Tax benefit of stock options exercised 17,748 17,748 Transfer to ESOP 15 585 600 Balances, October 31, 1997 $ 858 $66,660 $373,234 $276,667 ($200,527) $516,892 Additional Preferred Common Paid-In Retained Treasury Stock Stock Capital Earnings Stock Total Balances, January 30, 1998 $ 858 $83,526 $379,954 $320,085 ($200,527) $583,896 Net Income 104,031 104,031 5-for-4 stock split, September 21, 1998 21,090 (21,090) Cash dividend, $.10 per common share, as declared (18,438) (18,438) Cash dividend, $1.65 preferred share (2,555) (2,555) Issuance of common stock under employee stock incentive plans 1,377 25,903 27,280 Stock repurchase (499) (36,684) (36,053) (73,236) Tax benefit of stock options exercised 30,256 30,256 Transfer to ESOP 16 739 755 Balances, October 30, 1998 $ 858 $105,510 $415,762 $366,439 ($236,580) $651,989
3. Earnings Per Share Amounts are in thousands except per share data, and shares have been adjusted for the March 23, 1998 and September 21, 1998, five- for-four common stock splits. Nine months ended October 30, 1998 Per-Share Income Shares Amount Net Income $104,031 Less: preferred stock dividends 2,555 Basic Earnings per Share Income available to common shareholders $101,476 176,763 $0.57 Stock options outstanding 5,275 Convertible preferred stock 2,555 32,725 Diluted Earnings per Share Income available to common shareholders plus assumed conversions $104,031 214,763 $0.48 Nine months ended October 31, 1997 Per-Share Income Shares Amount Net Income $79,628 Less: preferred stock dividends 2,430 Basic Earnings per Share Income available to common shareholders $77,198 176,717 $0.44 Stock options outstanding 5,033 Convertible preferred stock 2,430 32,725 Diluted Earnings per Share Income available to common shareholders plus assumed conversions $79,628 214,475 $0.37 Three months ended October 30, 1998 Per-Share Income Shares Amount Net Income $40,338 Less: preferred stock dividends 942 Basic Earnings per Share Income available to common shareholders $39,396 177,182 $0.22 Stock options outstanding 4,766 Convertible preferred stock 942 32,725 Diluted Earnings per Share Income available to common shareholders plus assumed conversions $40,338 214,673 $0.19 Three months ended October 31,1997 Per-Share Income Shares Amount Net Income $33,618 Less: preferred stock dividends 838 Basic Earnings per Share Income available to common shareholders $32,780 176,978 $0.19 Stock options outstanding 5,653 Convertible preferred stock 838 32,725 Diluted Earnings per Share Income available to common shareholders plus assumed conversions $33,618 215,356 $0.16 4. Comprehensive Income The Company adopted Statement of Financial Accounting Standards ("SFAS") No. 130, "Reporting Comprehensive Income" in the first quarter of 1998. The Company's comprehensive income and net income for the three periods and nine periods ended October 30, 1998 and October 31, 1997 were equal. ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This discussion and analysis contains both historical and forward- looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although the Company believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included herein will prove to be accurate. Forward- looking statements may be significantly impacted by certain risks and uncertainties, including, but not limited to: general transportation and distribution delays or interruptions; interruptions in suppliers' operations; inventory risks due to shifts in market demand; changes in product mix; costs and delays associated with building, opening and operating new distribution centers; and the other risk factors listed in the Annual Report on Form 10-K for the year ended January 30, 1998. The Company undertakes no obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events or circumstances occurring after the date hereof or to reflect the occurrence of interruptions in suppliers' operations or unanticipated events. The following text contains references to years 1998, 1997, 1996 and 1995 which represent fiscal years ending or ended January 29, 1999, January 30, 1998, and January 31, 1997 and 1996, respectively. This discussion and analysis should be read in conjunction with, and is qualified in its entirety by, the consolidated financial statements, including the notes thereto. RESULTS OF OPERATIONS The nature of the Company's business is seasonal. Historically, sales in the fourth quarter have been significantly higher than sales achieved in each of the first three quarters of the fiscal year. Thus, expenses, and to a greater extent operating income, vary by quarter. Results of a period shorter than a full year may not be indicative of results expected for the entire year. Furthermore, comparing any period to a period other than the same period of the previous year will reflect the seasonal nature of the Company's business. NINE MONTHS ENDED OCTOBER 30, 1998 AND OCTOBER 31, 1997 NET SALES. Net sales for the first nine months of fiscal 1998 increased $461.8 million, or 26.1%, to $2.23 million from $1.77 million for the comparable period of fiscal 1997. The increase resulted from 449 net additional stores being in operation as of October 30, 1998, as compared with October 31, 1997, and an increase of 11.4% in same-store sales. Same-store sales growth was a 7.6% increase for the same period last year. The Company defines same stores as those opened prior to the beginning of the previous fiscal year which have remained open through the current period. Sales were negatively affected during the first and second quarters of fiscal 1997 as the Company refurbished more than 2,400 stores to a new prototype. GROSS PROFIT. Gross profit for the first nine months was $620.5 million, or 27.9% of net sales, compared with $485.8 million, or 27.5% of net sales, in the same period last year. This increase was driven by higher margin on current purchases. For the fourth quarter, management expects gross margin, as a percent of sales, to decline primarily because of higher inventory shrinkage accruals. SELLING, GENERAL AND ADMINISTRATIVE (SG&A) EXPENSE. SG&A expense for the first nine months totaled $449.8 million, or 20.2% of net sales, compared with $355.3 million, or 20.1% of net sales during the comparable period last year. Total SG&A expense increased 26.6% primarily as a result of 449 net additional stores being in operation as compared to the nine month period last year. For the fourth quarter management expects SG&A to decline, as a percent of sales, primarily as a result of lower advertising expense related to the elimination of the December circular. INTEREST EXPENSE. Interest expense increased to $6.3 million, or 0.28% of net sales, compared with $2.6 million or 0.15% of net sales, in the comparable period last year. This increase was a result of higher average borrowings to support higher company inventory levels and the repurchase of common stock. The increase in inventory levels was primarily a result of operating two additional distribution centers, one in Indianola, Mississippi and one in Villa Rica, Georgia; slightly higher inventory in existing stores; and additional inventory required to operate 449 more stores. During the first nine months of fiscal 1998 the Company repurchased 2,496,625 shares of common stock at an average cost of $29.34 per share. For the fourth quarter management expects interest expense, as percent of sales, to be flat with last year. PROVISIONS FOR TAXES ON INCOME. The effective income tax rate for the three and nine month periods ended October 30, 1998 was 35.9% and 36.8% compared with 37.8% in the comparable periods last year. State tax planning initiatives allowed the Company to lower the year-to-date rate to 36.8%. THREE MONTHS ENDED OCTOBER 30, 1998 AND OCTOBER 31, 1997 NET SALES. Net sales for the quarter increased $132.0 million, or 20.3%, to $781.4 million from $649.4 million for the comparable period of fiscal 1997. The increase resulted from 449 net additional stores being in operation as compared with the comparable period last year and an increase of 6.5% in same store sales. Same store sales increased 11.6% for the third quarter last year. GROSS PROFIT. Gross profit for the quarter was $224.7 million, or 28.8% of net sales, compared with $183.8 million, or 28.3% of net sales, in the same period last year. This increase was driven by higher margin on current purchases which was partially offset by higher shrink reserves, as a percent of sales. SELLING, GENERAL AND ADMINISTRATIVE (SG&A) EXPENSE. SG&A expense for the quarter totaled $158.4 million, or 20.3% of net sales, compared with $128.2 million, or 19.7% of net sales last year. Total SG&A expense increased 23.6% primarily as a result of adding 449 net new stores since the comparable period last year. INTEREST EXPENSE. Interest expense increased to $3.3 million, or 0.42% of net sales, compared with $1.6 million or 0.24% of net sales, in the comparable period last year. This increase was primarily a result of the same factors listed above for the nine- month period. LIQUIDITY AND CAPITAL RESOURCES Cash flows from operating activities - Net cash used by operating activities totaled $100.8 million during the first nine months of fiscal 1998 compared with $40.1 million cash used in operating activities in the comparable period last year. This increase in use of cash was primarily the result of increased inventories. Cash flows from investing activities - Net cash used by investing activities totaled $88.0 million during the first nine months of fiscal 1998 million compared with $58.5 million in the comparable period last year. The increase in cash used by investing activities was primarily the result of the $33.8 million received in 1997 from the sale/leaseback of the South Boston, Virginia distribution center. Current period cash used resulted primarily from $104.1 million in expenditures primarily from opening 452 new stores during the first nine months of fiscal 1998. Cash flows from financing activities - Total debt (including current maturities and short-term borrowings) at October 30, 1998 was $260.5 million compared to $196.6 million at October 31, 1997. The increase in total debt was driven by increased inventories and the stock repurchase. Because of the significant impact of seasonal buying (e.g., Spring and December holiday purchases), the Company's working capital requirements vary significantly during the year. These working capital requirements were financed by short-term borrowings under the Company's $175.0 million revolving credit/term loan facility and short-term bank lines of credit totaling $165.0 million at October 30, 1998. The Company had short-term borrowings of $259.7 million outstanding as of October 30, 1998 and $193.6 million as of October 31, 1997. Seasonal working capital expenditure requirements will continue to be met through cash flow provided by operations supplemented by the revolving credit/term loan facility and short-term bank lines of credit. Capital requirements for the construction of new stores, new distribution centers and the new corporate headquarters complex will continue to be funded under the Company's $225.0 million leveraged lease facility. As of October 30, 1998 $93.3 million of construction costs had been funded under this facility including: $43.2 million for the Indianola, Mississippi Distribution Center; $21.7 million for new stores; $15.2 million for the Fulton, Missouri Distribution Center; and $13.2 million for the corporate headquarters complex. As of October 30, 1998 the Company has entered into three five-year interest rate swap agreements to fix the interest rate on $150.0 million of this leveraged lease facility. The Company's liquidity position is set forth in the following table (dollars in thousands): October 30, January 30, October 31, 1998 1998 1997 Current ratio 1.6x 2.2x 1.6x Total borrowings/equity 40.0% 4.2% 38.0% Working Capital $368,917 $358,998 $279,966 Average daily use of debt fiscal year-to-date) $162,427 $ 90,882 $ 70,634 Maximum outstanding short-term debt (fiscal year-to-date) $312,580 $184,725 $193,583 ACCOUNTING PRONOUNCEMENTS The Company will adopt Statement of Financial Accounting Standards No. 131 "Disclosures about Segments of an Enterprise and Related Information" for the year ending January 29, 1999. The Company will adopt Statement of Position 98-1, "Accounting for the Costs of Computer Software Developed or Obtained for Internal Use," for the year ending January 28, 2000. In June 1998, the FASB issued SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities." This pronouncement will be effective for all fiscal quarters of fiscal years beginning after June 15, 1999. The Company is still in the process of analyzing the impact of the adoption of this Statement. YEAR 2000 Dollar General Corporation ("Company") recognizes that without appropriate modification, some computer programs may not operate properly when asked to recognize the year 2000. Upon reaching the year 2000, these computer programs will inaccurately interpret the "00" used in two-digit date calculations as 1900. In anticipation of the need to correct and otherwise prepare for any potential Year 2000 computer problems, the Company formed a Year 2000 Task Force ("Task Force") which has completed a year 2000 compliance plan. The plan addresses all hardware and software systems, as well as equipment controlled by microprocessors used in the offices, stores, or distribution centers. As a part of the plan, the Task Force has substantially completed its assessment of the Company's systems, has identified the Company's hardware, software and equipment that will not operate properly in the year 2000 and, in most cases, has remedied the problem with programming changes. The plan identifies the Company's accounting, inventory management and warehouse management systems as critical systems. The Company expects that programming changes and software replacement for systems that are not already year 2000 compliant will be completed during the first and second quarters of the fiscal year beginning January 30, 1999. The Company has completed testing the year 2000 readiness of many of its systems and expects to complete the testing process by the end of the second quarter of the fiscal year beginning January 30, 1999. The Company's year 2000 compliance effort has not resulted in any material delays to other internal information technology projects. The Company has requested, and is receiving, written confirmation from vendors, suppliers and other service providers ("business partners") as to their year 2000 system compliance status. Although the Company is diligently seeking information as to its business partners' year 2000 compliance progress, there can be no assurance that such business partners will have remedied their year 2000 issues. The failure of a significant business partner to remedy its year 2000 issues could have a material adverse effect on the Company's operations, financial position or liquidity. The Company will continue to monitor the progress of its business partners in an effort to mitigate its own year 2000 non-compliance risk. Based on the Company's current estimates, the cost of the Company's year 2000 remediation efforts will be between $500,000 and $1,000,000. To date, expenditures have been less than $100,000. Costs are being expensed when incurred. This cost estimate excludes the costs of previously planned software implementations as well as salaries of existing employees involved in the year 2000 remediation efforts. These projected costs are based upon management's best estimates which were derived utilizing numerous assumptions of future events. There can be no guarantee however, that these costs estimates will be accurate; actual results could differ materially. Management believes that its greatest risk to achieving timely year 2000 compliance is in its third party relationships. Currently available information indicates that Dollar General's significant business partners will be year 2000 ready. Management believes there is a moderate level of risk associated with the unconfirmed year 2000 compliance status of small utility companies that provide utility service to the Company's individual stores. The Company will continue to closely monitor the year 2000 compliance readiness of its business partners, and where appropriate, will replace those business partners who appear to be unwilling to confirm their year 2000 readiness or unable to meet compliance deadlines. In addition, the Company is developing contingency plans to handle utility service failures caused by utility companies' year 2000 system non-compliance. PART II - OTHER INFORMATION Item 1. Not applicable. Item 2. Not applicable. Item 3. Not applicable. Item 4. Not applicable. Item 5. Not applicable. Item 6. A. Exhibits 27 Financial Data Schedule (for SEC use only) B. Reports on Form 8-K No Current Reports on Form 8-K were filed by Dollar General Corporation during the quarter ended October 30, 1998. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. DOLLAR GENERAL CORPORATION (Registrant) December 11, 1998 By:/s/ Phil Richards Phil Richards, Vice President, Chief Financial Officer EX-27 2
5 0000029534 DOLLAR GENERAL CORP. 1000 9-MOS 9-MOS JAN-29-1999 JAN-30-1998 OCT-30-1998 OCT-31-1997 18254 13168 0 0 0 0 0 0 944266 737263 1003445 378506 477281 378506 188241 140404 1298983 1019598 634528 495935 0 0 0 0 858 858 105510 66660 545621 449374 1298983 1019598 2228004 1766234 2228004 1766234 1607457 1280439 449786 335254 0 0 0 0 6285 2625 164476 127916 60445 48288 104031 79628 0 0 0 0 0 0 104031 79628 .58 .44 .48 .38
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