June 1 (Reuters) - Dollar-store chain operator Dollar General Corp reported a 5.3 percent drop in quarterly profit due to the early retirement of its debt and higher costs.
The company’s net income fell to $279.5 million, or $1.02 per share, in the first quarter ended May 5, from $295.1 million, or $1.03 per share, a year earlier.
The company said it took a 1 cent per share charge on early retirement of long-term obligations.
Net sales rose 6.5 percent to $5.61 billion. (Reporting by Sruthi Ramakrishnan in Bengaluru,)