SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 16, 2000
Dollar General Corporation
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(Exact Name of Registrant as Specified in Charter)
Tennessee 001-11421 61-0502302
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(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification No.)
100 Mission Ridge
Goodlettsville, Tennessee 37072
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (615) 855-4000
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(Former name or former address, if changed since last report)
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ITEM 9. FORWARD-LOOKING EXPECTATIONS FOR THE QUARTER ENDING OCTOBER 27, 2000
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
Dollar General Corporation (the "Company") believes the assumptions underlying
the forward-looking statements are reasonable, any of the assumptions could be
inaccurate, and therefore, there can be no assurance that the forward-looking
statements 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 other risk factors
referenced in the Annual Report on Form 10-K for the year ended January 28, 2000
and the Company's other periodic reports and filings with the Securities and
Exchange Commission. The Company undertakes no obligation to publicly release
any revisions to any forward-looking statements to reflect events or
circumstances occurring after the date of this report.
The following text contains references to the third quarters of 1999 and 2000,
which represent fiscal periods ended or ending on October 29, 1999 and October
27, 2000 respectively.
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.
The Company defines same stores as those opened before the beginning of the
previous fiscal year which have remained open throughout the current period.
As of the date of this filing, management's expectations for the third quarter
ending October 27, 2000 are as follows:
Revenues
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Total company revenues and same-store sales are expected to increase 15-16% and
1-2%, respectively as compared with the same period in 1999.
Gross Profit
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Gross profit as a percentage of net sales is expected to be flat to slightly
higher than gross profit in the same period a year ago.
Selling, General and Administrative (SG&A) Expense
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Based on sales expectations, management anticipates SG&A expense as a percentage
of net sales to increase 0.80%-1.20% compared SG&A expense as a percentage of
net sales in the third quarter of 1999.
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Interest Expense
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Interest expense as a percentage of net sales for the third quarter is expected
to increase 0.10%- 0.20%, reflecting higher interest rates than the same period
a year ago.
Provision for Taxes on Income
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The tax rate is expected to be approximately 36.25%.
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)
October 16, 2000 By: /s/ Brian M. Burr
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Executive Vice President and
Chief Financial Officer
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