UPDATE: Dollar General Q3 Profit Rises 21%

Dollar General DG reported a 21% rise in its fiscal third-quarter earnings. For the year, Dollar General now expects earnings of $2.82 to $2.85 per share. Dollar General's quarterly profit surged to $208 million, or $0.62 per share, from $171 million, or $0.50 per share, in the year-ago period. Excluding one-time items, its adjusted earnings came in at $0.63 per share. Its revenue rose 10% to $3.96 billion, while same-store sales increased 4%. However, analysts were expecting earnings of $0.60 per share on revenue of $3.96 billion. Its gross margin declined to 30.9% from 31%. Dollar General shares dropped 2.36% to $45.47 in pre-market trading.