Dollar General (DG) Q2 FY26 earnings
Revenue $11.3B, up 5% from a year ago. Net income $550M.
Dollar General puts small discount stores where bigger retailers don't go — mostly rural America. Revenue grew 5% to $11.3B, with Consumables at 82% of sales, and net income rose 34% to $550M — a 4.9% margin at a stated 24.2% effective tax rate.
Ten years of openings, netted against closings.
Dollar General added stores every year, to 20,893 in FY25 from 13,320 in FY16. Every store the company counts at its fiscal year-end: Dollar General and pOpshelf, plus its Mexico stores from FY23.
Gross margin held; net margin thinned.
Dollar General ran the same 31¢ of gross margin per revenue dollar in FY25 as in FY17, and kept 4¢ of it, down from 7¢.
Where the revenue came from
| Segment | Amount | % of revenue | Y/Y |
|---|---|---|---|
| Consumables | $9.3B | 82.0% | +5% |
| Seasonal | $1.2B | 10.5% | +7% |
| Home Products | $537M | 4.8% | +5% |
| Apparel | $303M | 2.7% | +5% |
Income statement, line by line
| Line | Amount | % of revenue | Y/Y |
|---|---|---|---|
| Revenue | $11.3B | +5% | |
| Cost of revenue | $7.6B | 67.4% | +3% |
| Gross profit | $3.7B | 32.6% | +9% |
| Operating expenses | $2.9B | 25.8% | +5% |
| Operating income | $769M | 6.8% | +29% |
| Pretax income | $726M | 6.4% | +35% |
| Income tax | $176M | 1.6% | +39% |
| Net income | $550M | 4.9% | +34% |
— means the filing states no comparable prior-year figure for that line, so we do not compute one.
Effective tax rate: 24.2%. That is tax as a share of pretax income. The 1.6% in the column above is tax as a share of revenue, which is not a tax rate.
The last 8 quarters
| Quarter ended | Revenue | Net income | Net margin |
|---|---|---|---|
| Jul 31, 2026 | $11.3B | $550M | 4.9% |
| May 1, 2026 | $10.8B | $444M | 4.1% |
| Jan 30, 2026 | $10.9B | $426M | 3.9% |
| Oct 31, 2025 | $10.6B | $283M | 2.7% |
| Aug 1, 2025 | $10.7B | $411M | 3.8% |
| May 2, 2025 | $10.4B | $392M | 3.8% |
| Jan 31, 2025 | $10.3B | $191M | 1.9% |
| Nov 1, 2024 | $10.2B | $197M | 1.9% |
Held by tracked 13F managers
DOLLAR GEN CORP (COM): 7 of 69 tracked managers reported holding it — $2,225M across tracked reports, as filed.
13F reports arrive up to 45 days after quarter end and may be amended; totals sum across tracked reports, not unique economic ownership.
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