Goodlettsville-based Dollar General ended its 2010 fiscal year with $1.27 billion in operating profit, a 34 percent increase over 2009.
During the same period, the company reported $13.04 billion in sales, a 10.5 percent increase over the prior year.
Dollar General had a great year in 2010, said Rick Dreiling, chairman and chief executive officer.
Fourth quarter earnings more than doubled, after the retailer cut advertising and compensation costs. Sales also rose sharply in the quarter that ended Jan. 28, 9.4 percent to $3.49 billion.
Quarterly profits rose to $222.5 million, or 64 cents a share, from $87.2 million, or 26 cents a share, from the year-ago period.
Dollar General also announced today it will open a $60 million distribution center in Bessemer, Ala. -- its 10th distribution facility.
The chain plans to open more than 600 new stores and remodel or relocate about 550 stores this year.Comments | Share your thoughts »Related StoriesMore Business News headlinesJapan disaster batters U.S. airlinesDollar General reports record profits in 2010Delta to cut Memphis departures by 25 percentHewlett-Packard CEO has vision for company's futureFCC Commissioner Robert McDowell in Nashville next weekSelected for you by a sponsor:ADVERTISEMENT
Top StoriesElizabeth Taylor dies at 79David Climer: NCAA loss cost Bruce Pearl his jobSpring Break on the cheap in Music City Rain, possible isolated severe storms predicted for today See all Top Stories
Most PopularNCAA tournament loss was Pearl's final undoingVols committed violation this month with Kentucky ticketsSuspect says on tape he and son shot workers because P.O. had little cashBrunch restaurant chain to expand to 5 area locations'Plant food' is latest way to get high
Spring Break in Music City
Elizabeth Taylor through the Years
Coach Summitt on Pearl: We will always be friends
Most CommentedDavid Climer: Bruce Pearl carried too much baggage to stay at UT73TN Tea Party claims Gov. Haslam has socialistic tendencies48Lawmakers attacking the wrong people46TN legislators strip 'Shariah' from anti-terror bill44U.S. House members from TN increased staff budgets in 201044ADVERTISEMENT