Discount chain Dollar General Corp. reported a lower-than-expected quarterly profit, blaming tough competition, a harsh winter and weak consumer spending.
Net income rose to $222 million, or 72 cents per share, in the first quarter ended May 2, from $220 million, or 67 cents per share, a year earlier.
Net sales increased about 7 percent to $4.52 billion.
Analysts on average expected the company to earn 73 cents per share on revenue of $4.56 billion, according to Thomson Reuters I/B/E/S.
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