Dollar General 2008 Annual Report Download - page 24

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(1) Includes the results of Buck for the period prior to the Merger with and into Dollar General Corporation from March 6, 2007 (its formation)
through July 6, 2007 and the post-Merger results of Dollar General Corporation for the period from July 7, 2007 through February 1, 2008.
(2) Includes the effects of certain strategic merchandising and real estate initiatives that resulted in the closing of approximately 460 stores and
changes in the Company’s inventory management model which resulted in greater inventory markdowns than in previous years.
(3) The fiscal year ended February 3, 2006 was comprised of 53 weeks.
(4) For fiscal periods ending after January 28, 2005, same-store sales have been calculated based upon stores that were open at least 13 full
fiscal months and remained open at the end of the reporting period. For fiscal periods ending on or before January 28, 2005, same-store
sales include stores that were open both at the end of the reporting period and at the beginning of the preceding fiscal year. The Company
excludes the sales in the 53rd week of a 53-week year from the same-store sales calculation.
(5) Net sales per square foot was calculated based on total sales for the preceding 12 months as of the ending date of the reporting period
divided by the average selling square footage during the period, including the end of the fiscal year, the beginning of the fiscal year, and the
end of each of the Company’ s three interim fiscal quarters. For the period from February 3, 2007 through July 6, 2007, average selling
square footage was calculated using the average of square footage as of July 6, 2007 and as of the end of each of the four preceding
quarters. For the fiscal year ended February 3, 2006, net sales per square foot was calculated based on 52 weeks’ sales.
Successor
Predecessor
Year Ended
Year Ended
(Amounts in millions, excluding
number of stores, selling square feet,
and net sales per square foot)
January 30,
2009
March 6,
2007
through
February 1,
2008(1)(2)
February 3,
2007
through
July 6,
2007(2)
February 2,
2007(2)
February 3,
2006(3)
January 28,
2005
Statement of Operations Data:
Net sales
$
10,457.7
$
5,571.5
$
3,923.8
$
9,169.8
$
8,582.2
$
7,660.9
Cost of goods sold
7,396.6
3,999.6
2,852.2
6,801.6
6,117.4
5,397.7
Gross profit
3,061.1
1,571.9
1,071.6
2,368.2
2,464.8
2,263.2
Selling, general and
administrative
2,448.6
1,324.5
960.9
2,119.9
1,903.0
1,706.2
Litigation settlement and related
costs, net 32.0 - - - - -
Transaction and related costs
-
1.2
101.4
-
-
-
Operating profit 580.5 246.1 9.2 248.3 561.9 557.0
Interest income
(3.1)
(3.8)
(5.0)
(7.0)
(9.0)
(6.6)
Interest expense
391.9
252.9
10.3
34.9
26.2
28.8
Other (income) expense
(2.8)
3.6
-
-
-
-
Income (loss) before income taxes
194.4
(6.6)
4.0
220.4
544.6
534.8
Income tax expense (benefit)
86.2
(1.8)
12.0
82.4
194.5
190.6
Net income (loss)
$
108.2
$
(4.8)
$
(8.0)
$
137.9
$
350.2
$
344.2
Statement of Cash Flows Data:
Net cash provided by (used in):
Operating activities
$
575.2
$
239.6
$
201.9
$
405.4
$
555.5
$
391.5
Investing activities
(152.6)
(6,848.4)
(66.9)
(282.0)
(264.4)
(259.2)
Financing activities
(144.8)
6,709.0
25.3
(134.7)
(323.3)
(245.4)
Total capital expenditures
(205.5)
(83.6)
(56.2)
(261.5)
(284.1)
(288.3)
Other Financial and Operating
Data:
Same store sales growth (4) 9.0% 1.9% 2.6% 3.3% 2.2% 3.2%
Same store sales (4)
$
10,118.5
$
5,264.2
$
3,656.6
$
8,327.2
$
7,555.8
$
6,589.0
Number of stores included in same
store sales calculation
8,153
7,735
7,655
7,627
7,186
5,932
Number of stores (at period end)
8,362
8,194
8,205
8,229
7,929
7,320
Selling square feet (in thousands at
period end) 58,803 57,376 57,379 57,299 54,753 50,015
Net sales per square foot (5)
$
179.7
$
165.4
$
163.9
$
162.6
$
159.8
$
159.6
Highly consumable sales
69.3%
66.4%
66.7%
65.7%
65.3%
63.0%
Seasonal sales
14.6%
16.3%
15.4%
16.4%
15.7%
16.5%
Home product sales
8.2%
9.1%
9.2%
10.0%
10.6%
11.5%
Basic clothing sales
7.9%
8.2%
8.7%
7.9%
8.4%
9.0%
Rent expense
$
389.6
$
214.5
$
150.2
$
343.9
$
312.3
$
268.8
Balance Sheet Data (at period
end):
Cash and cash equivalents and short-
term investments $ 378.0 $ 119.8 $ 219.2 $ 209.5 $ 275.8
Total assets
8,889.2
8,656.4
3,040.5
2,980.3
2,841.0
Total debt
4,137.1
4,282.0
270.0
278.7
271.3
Total shareholders’ equity
2,831.7
2,703.9
1,745.7
1,720.8
1,684.5