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Dollar General sales rise, says committed to buying Family Dollar

[December 04, 2014] (Reuters) - Dollar General Corp reported a 7.8 percent rise in quarterly sales and said it remained committed to buying Family Dollar Stores Inc, which has already agreed to be acquired by Dollar Tree Inc.

Dollar Tree will unseat Dollar General as the No. 1 U.S. deep-discount retailer if it closes the deal with Family Dollar.

Dollar General's net income slipped to $236.3 million, in the third-quarter ended Oct. 31 from $237.4 million a year earlier.

Earnings per share, however, rose to 78 cents from 74 cents a year earlier due to fewer outstanding shares.

Revenue rose to $4.72 billion from $4.38 billion.

(Reporting by Sruthi Ramakrishnan and Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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