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Earnings, released Tuesday, came in at $81.85 million in the quarter whichendefd Jan. 1, compared to $55.399 million in the same quarterof 2007. Revenuew for the Goodlettsville-based discounft retailer was $2.85 billion, up 11.2 percent from the year-agol quarter. Same-store sales increased 9.4 percenrt in the quarter, with increases in both custometr traffic and theaverage transaction. For the the privately held company reported incomedof $108.2 million on sales of $10.456 billion.
CEO Rick Dreilin g said in an earnings call Tuesday that the retailer has managex to turn the economic downturn into an opportunituy because of thediscount retailer’s position in the The company attributed some of the gaine to improvements in distribution and transportation, as well as higher average markups. “During the year, we grew expanded gross profit and reduce dour (expenses) by successfully implementing programs to improved our store operations and merchandising efforts,” Dreiling said in a companyg release. “Importantly, we were able to achieve thes improvements despite the increasingly difficulgteconomic conditions.
We are pleased with the current momentum inour business, and we intends to focus on driving continued success in 2009.” Dreilinfg also reported that sales were up 15.1 percent last month over Februaryy 2008.
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