Dollar GeneralThe full-year sales forecast was reined in by Dollar General Corporation as the company confirmed that it will stay committed to purchasing its rival, Family Dollar Stores, Inc. If the sale is approved, it would solidify Dollar General’s place as being the number one discount retailer in the United States.

However, if Dollar General does not upend the merger agreement between Family Dollar and Dollar Tree Inc., the company will lose the top-seated position. Currently, there is increasing competition for Dollar stores from smaller type stores opened by bigger retailers to include Wal-Mart, as well as the online giant Amazon.com, Inc.

In September, Dollar General offered an $80 per share bid for Family Dollar by going directly to the shareholders, which are now scheduled to take a vote sometime this month whether to accept the lower $74.50 per share bid presented by Dollar Tree.

Rich Dreiling, Chairman and CEO of Dollar General said an update on its offer for Family Dollar will be provided prior to the shareholder’s’ vote on December 23.

Sales growth forecast was narrowed by Dollar General for the year ending in January to roughly 8% from a range of 8% to 9%. According to a spokesperson for the company, there will be an increase for same-store sales at or below the prior forecast of 3% to 3.5% for 2014.

Dollar General received 75% of its third-quarter sales from products priced below $5 and noted an increase for consumable items to include home cleaning, food, and paper products that cost $1.

Same-store sales growth of 2.8% for the quarter ended October 31 were reported, lower than analysts’ estimates of 3.2% who were polled by the research firm Consensus Metrix.

The 5% estimated by analysts for same-store sales during the fourth quarter, which would be driven by holiday sales, was better opposed to numbers reported during the same period in 2013, There was also reported improvement for performance specific to apparel and home categories.

Net income for Dollar General fell to $236.3 million during the third quarter from $237 million. However, earnings per share climbed to $0.78 from last year’s $0.74 primarily because of outstanding shares. For revenue, there was an increase from $4.38 billion to $4.72 billion.

On average, analysts expect to see earnings of $.80 per share on revenue of $4.78 billion, this according to Thomson Reuters. Shares rose 2% to $68.02 in midday trading. Close to the bell in Wednesday’s market, shock for Dollar General had risen more than 10% this year.

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