Dollar General Corp. (NYSE:DG) stock rose 1.91% (As on Dec 3, 11:45:05 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 21. The company has announced the real estate growth plans for fiscal year 2022, which consist of nearly 3,000 real estate projects in total, including 1,110 new stores. These plans include the acceleration of the pOpshelf store concept, as the company expects to nearly triple the store count next year. Further, given the sustained and positive performance of the pOpshelf concept, the company plans to further accelerate the pace of new store openings, targeting a total of approximately 1,000 pOpshelf locations by fiscal year end 2025. The company also plans to expand the footprint internationally for the first time, with plans to open up to ten stores in Mexico by the end of fiscal 2022, as the company continues to lay the foundation for future growth. The Company has reported net income of $487.0 million for the third quarter of 2021, a decrease of 15.2% compared to $574.3 million in the third quarter of 2020.

DG in the third quarter of FY 21 has reported the adjusted earnings per share of $2.08, beating the analysts’ estimates for the adjusted earnings per share of $2.02, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 3.9 percent to $8.52 billion in the third quarter of FY 21, beating the analysts’ estimates for revenue of $8.51 billion. The net sales increase was primarily driven by positive sales contributions from new stores, partially offset by a slight decline in same-store sales and the impact of store closures. Same-store sales decreased 0.6% compared to the third quarter of 2020, driven by a decline in customer traffic, partially offset by an increase in average transaction amount. Same-store sales in the third quarter of 2021 included a decline in the apparel and seasonal categories, partially offset by growth in the consumables and home products categories.

For fiscal year 2021, the Company expects the net sales growth of approximately 1.0% to 1.5%; compared to its previous expectation in the range of 0.5% to 1.5%. Same-store sales decline is expected to be of approximately 3.0% to 2.5%, compared to its previous expectation of a decline of 3.5% to 2.5%. Diluted EPS is expected to be in the range of $9.90 to $10.20 compared to its previous expectation in the range of $9.60 to $10.20.