Dollar General 2013 Annual Report Download - page 110

The following table contains results of operations data for fiscal years 2013, 2012 and 2011, and
the dollar and percentage variances among those years.
2013 vs. 2012 2012 vs. 2011
(amounts in millions, Amount Amount
except per share 2013 2012 2011 Change % Change Change % Change
amounts)
Net sales by category:
Consumables ...... $13,161.8 $11,844.8 $10,833.7 $1,317.0 11.1%$1,011.1 9.3%
% of net sales ..... 75.19% 73.93% 73.17%
Seasonal ......... 2,259.5 2,172.4 2,051.1 87.1 4.0 121.3 5.9
% of net sales ..... 12.91% 13.56% 13.85%
Home products .... 1,115.6 1,061.6 1,005.2 54.1 5.1 56.4 5.6
% of net sales ..... 6.37% 6.63% 6.79%
Apparel .......... 967.2 943.3 917.1 23.9 2.5 26.2 2.9
% of net sales ..... 5.53% 5.89% 6.19%
Net sales ......... $17,504.2 $16,022.1 $14,807.2 $1,482.0 9.2%$1,214.9 8.2%
Cost of goods sold . . 12,068.4 10,936.7 10,109.3 1,131.7 10.3 827.4 8.2
% of net sales ..... 68.95% 68.26% 68.27%
Gross profit ....... 5,435.7 5,085.4 4,697.9 350.3 6.9 387.5 8.2
% of net sales ..... 31.05% 31.74% 31.73%
Selling, general and
administrative
expenses ....... 3,699.6 3,430.1 3,207.1 269.4 7.9 223.0 7.0
% of net sales ..... 21.14% 21.41% 21.66%
Operating profit . . . 1,736.2 1,655.3 1,490.8 80.9 4.9 164.5 11.0
% of net sales ..... 9.92% 10.33% 10.07%
Interest expense .... 89.0 127.9 204.9 (38.9) (30.4) (77.0) (37.6)
% of net sales ..... 0.51% 0.80% 1.38%
Other (income)
expense ........ 18.9 30.0 60.6 (11.1) (37.0) (30.7) (50.6)
% of net sales ..... 0.11% 0.19% 0.41%
Income before
income taxes .... 1,628.3 1,497.4 1,225.3 130.9 8.7 272.1 22.2
% of net sales ..... 9.30% 9.35% 8.27%
Income taxes ...... 603.2 544.7 458.6 58.5 10.7 86.1 18.8
% of net sales ..... 3.45% 3.40% 3.10%
Net income ....... $ 1,025.1 $ 952.7 $ 766.7 $ 72.5 7.6%$186.0 24.3%
% of net sales ..... 5.86% 5.95% 5.18%
Diluted earnings per
share .......... $ 3.17 $ 2.85 $ 2.22 $ 0.32 11.2%$ 0.63 28.4%
Net Sales. The net sales increase in 2013 reflects a same-store sales increase of 3.3% compared to
2012. For 2013, there were 10,387 same-stores which accounted for sales of $16.37 billion. Same-stores
include stores that have been open for at least 13 months and remain open at the end of the reporting
period. Changes in same-store sales are calculated based on the comparable calendar weeks in the
prior year, and include stores that have been remodeled, expanded or relocated.. The remainder of the
increase in sales in 2013 was attributable to new stores, partially offset by sales from closed stores. The
increase in sales reflects increased customer traffic and average transaction amounts. Increases in sales
of consumables outpaced our non-consumables, with sales of tobacco products, perishables, and candy
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10-K